David Schwartzman Of Harridge Development Group Secures $135 Million Loan For Retail Redevelopment In Los Angeles

The property asset involved is a retail space located at 3650 West Martin Luther King Junior Boulevard in Los Angeles, CA. This property spans 870,000 square feet and sits on 43 acres. Harridge Development Group acquired the Baldwin Hills Crenshaw Plaza for $111 million in 2021 and is now advancing its redevelopment plans.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $135,000,000
• Lender: Schroders Capital
• Landlord: David Schwartzman - Harridge Development Group
• Planned Development: 961 residential units, a 400-key hotel, retail and office space
• Current Phase: Demolition of a former Sears building for 92 residential units

The transaction showcases the involvement of David Schwartzman, representing Harridge Development Group in securing financing for the project. Schroders Capital serves as the lender, backing the company's efforts to transform the retail space into a mixed-use development.