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Follow on Google News | Quantum Capital Secures Financing for Acquisition and Creative Conversion of So Cal Industrial BldgBy: Quantum Capital Partners The acquisition and the planned creative conversion of the one-acre Bookbindery site, which includes a 22,000-square- “Despite a strong and experienced sponsor, the Bookbindery acquisition was not without its challenges,” The two 1950s’ vintage industrial buildings that make up the Bookbindery –-so named because text books for the University of California system were bound there -- has been used as a special events venue since 2010. The property is located adjacent to Runyon’s The Platform, a 72,000-square foot development with a mix of creative office, retail and entertainment uses. The Platform is expected to be completed Fall 2015. “Runyon relied on us to provide a surety of execution – both on the refinance and acquisition – so they could seize on an opportunity to acquire and redevelop the neighboring property that would complement The Platform,” added Yim. “The two loans with two different lenders were under application simultaneously. We closed the refinance 7 days prior to closing the Bookbindery acquisition.” A portion of the loan proceeds will be used to renovate and reposition the property, which will feature 22,000 square feet of creative office space, 5,000 square feet of retail space, and an outdoor courtyard when completed Spring 2016. About Quantum Capital Partners Quantum Capital Partners (http://www.quantumcp.com) is a leading mortgage banking firm that provides comprehensive real estate finance and advisory services across all major asset classes. We have more than $3 billion of debt and equity financing experience nationwide, working with a wide and diverse network of capital providers. Combined with our comprehensive knowledge of the capital markets that encompass the entire capital stack, Quantum repeatedly delivers expert advice and customized financing solutions on the most complex real estate transactions. End
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