Arc Capital Secures $29.3M Refinancing for Koreatown’s Chapman Market

Arc Capital Partners has secured a $29.3 million refinancing package for Chapman Market, a historic commercial hub situated in Los Angeles' Koreatown neighborhood. Voya Investment Management provided the debt for the 41,241-square-foot retail and dining center located at 3465 West Sixth Street.

Arc Capital initially purchased the property a decade ago for $30 million and previously took out a $25.5 million bridge loan in 2021. Northmarq brokers Joe Giordani, Alex Kane, Karl Weidell, Bryan Ley, and Tim Kuruzar arranged the new financing.

Originally constructed in 1928, the complex—also referred to as Chapman Plaza—was designated as a Los Angeles Historic-Cultural Monument after pioneering automobile-oriented commercial design in the western United States. Today, the complex serves as a multi-tenant dining and entertainment destination housing tenants such as Quarters Korean BBQ, KazuNori, Escala, Starbucks, and private venue Club HUE.

For retail investors and lenders, the transaction highlights strong institutional debt appetite for stabilized, high-traffic experiential retail assets in dense urban submarkets.