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LOS ANGELES-Midtown Shopping Center Associates has acquired the land under its Midtown Shopping Center and two adjacent properties for $42.5 million. Northmarq Capital financed a three-year, interest-only loan.

The adjacent properties on the site’s eastern and western edges total 3.56 acres, while the shopping center covers 185,000 square feet, bringing the new site footprint to 14.56 acres. The shopping center is located at 4725 West Venice Boulevard, bounded by Venice, San Vicente and Pico Boulevards. Catellus Development Corp. of Denver was the seller.

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