A rendering of Rise Koreatown in Los Angeles.
LOS ANGELES— Rescore Property Corp. has landed construction financing in the amount of $153.75 million for its Rise Koreatown multifamily project off Wilshire Boulevard.
Bethesda, MD-based Walker & Dunlop arranged the financing transaction for the seven-story Class A property. Rescore is a private REIT founded by Arthur Falcone, Tony Avila and Bill Powers based in Boca Raton, FL. The firm's local development partner is Cal-Coast of Los Angeles.
Led by Miami, Florida-based Kevin O'Grady and Eric McGlynn, both managing directors in Walker & Dunlop's Capital Markets group, the team structured both senior and mezzanine financing for the project. They leveraged their broad network of capital providers, identifying Barings LLC as the developer's ideal partner for the non-recourse financing.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
