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WEST COVINA, CA-The buyers of West Covina Parkway Plaza have secured $10 million in acquisition financing and Koar International of Beverly Hills has secured $4.7 million in permanent financing for two retail buildings in Woodland Hills in separate transactions involving different lenders.

CDC Mortgage Capital Inc. provided a $10 million fixed-rate, 10-year loan to a partnership controlled by Lawrence Kuppin and Lawrence Cohen to finance their acquisition of West Covina Parkway Plaza, an 87,700-sf retail center at 1000-1200 W. Covina Parkway, across from an enclosed regional mall. Major tenants at the property include Pier 1 Imports, Sizzler and Good Guys. The property will be managed by Ophir Management, a California real estate management and investment group, which also has an equity interest in the project. CDC Mortgage Capital is the U.S. real estate financing unit of CDC IXIS of Paris, France.

In the other transaction, Koar International secured $4.7 million in permanent financing for two retail buildings comprising 27,000 sf at 21825 Erwin St. and 6020 Canoga Ave. in Warner Center, according to Buchanan Street Partners of Newport Beach.

The properties include a 5,400-sf freestanding Cost Plus World and a fully leased multi-tenant retail building of 21,600 sf that houses a Koo Koo Roo restaurant. The properties, which were built in the 1970s and remodeled in 1999, were 100% leased at the time of the funding, which was a refinancing. Doug Thompson and Mike Coady in the Newport Beach office of Buchanan Street arranged a competitively priced, 10-year fixed rate loan, with the two properties cross collateralized to achieve maximum leverage.

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