LOS ANGELES-La Cienega Plaza, a fixture on one of mid-city's main streets, has obtained a refinancing for just over $61 million. The Plaza is located at 1833 S. La Cienega Blvd.

Joseph Merrill Capital and RP Realty Advisors LLC structured the CMBS loan for RP Realty Partners La Cienega Plaza.  The property is a 308-143-square-foot, L-shaped center that is close to 99% occupied by 47 tenants, including LA Fitness, Toys 'R' Us, Ross Dress for Less and Staples. The center has been well-occupied over the last four years, averaging over 99% occupancy.

Terms of the loan and information on plans for the refinancing were not immediately available, beyond noting that the Plaza refinancing is taking advantage of lower interest rates through a permanent loan execution.

RP Realty Partners invests, owns and operates retail shopping centers throughout the US, focusing on retail and mixed-use properties of 100,000 to 600,000 square feet. RP invests in middle-market transactions ranging from $10 million to $100 million in total cost.

JMC Capital works with more than 300 life insurance, pension fund, commercial and regional lenders, focusing on recapitalizations.

As previously reported by GlobeSt.com, Canyon Catalyst Fund has teamed with Paragon Commercial Group in a joint venture that will invest between $60 million to $100 million in retail acquisitions in California's urban market.