DJM Capital and Arc Capital Partners Recapitalize and Revitalize Village Del Amo

Developer will use funding to continue transformation of its long-held mixed-use asset

LOS ANGELES, Dec. 12, 2022 /PRNewswire/ -- DJM, a prominent California-based real estate developer, announced today its successful recapitalization of Village Del Amo, a 180,000 square-foot, grocery-anchored, mixed-use retail property, in partnership with longtime urban mixed-use investor, Arc Capital Partners.

This loan refinancing follows the opening of the newly built HanNam grocery store, as well as a trend of improved leasing and positive tenant performance coming out of the pandemic. These proceeds will be used to redevelop restaurant pads and bring in high-quality establishments desired by local residents, refresh the center, and focus on DJM's signature placemaking abilities to bring long-term value to current equity holders and the community.

Village Del Amo is centrally located in the City of Torrance at the intersection of Torrance and Hawthorne Boulevard. Strong national co-tenancy including Tender Greens, BevMo, Benihana, Starbucks—and now HanNam—have proven resilient post-pandemic with visitor traffic returning to 2019 levels. DJM originally acquired the Village Del Amo in 2004 and has managed it through its evolution, with the next phase focusing on updating its "restaurant row" and a complete repositioning and refreshening of the property.

"As retail evolves, we are confident in the continued evolution and success of Village Del Amo. Neighborhood grocery-anchored centers have continued to perform extremely well. With the addition of HanNam, several new retail stores and restaurants—and plans for a property-wide design update—we know we have positioned the property for the future," said Lindsay Parton, President of DJM.

Arc Capital Partners and DJM are also partners in Lido Marina Village, a waterfront Newport Beach mixed-use asset. The two firms continue to expand on their successful relationship with the addition of Village Del Amo.

"We are incredibly excited to partner with DJM again, our second investment together, to support the revitalization of a grocery-anchored, community-serving retail property located in a vibrant multicultural neighborhood," said Neville Rhone, Managing Partner of Arc Capital Partners.

"Our ability to execute a recap like this in such a challenging capital market environment speaks both to the quality of the real estate and the strength of the DJM platform," said Rob Grant, SVP of Investments at DJM.

DJM also developed Ovation Hollywood, which was formerly known as Hollywood & Highland, with Gaw Capital, as well as Pacific City in Huntington Beach.

DJM is a private equity real estate owner, operator and developer based in California. DJM creates long-term value by transforming real estate to meet the 21^st century demands of consumers, retailers, and office users. With a focus on placemaking, DJM leverages design, development, and best-in-class management to create places where people thrive. DJM is represented by a current portfolio of approximately four million square feet with an estimated portfolio value of $2 billion. For more information, please visit www.djmcapital.com.

Arc Capital Partners (Arc) is a minority-owned, real estate owner and investment manager dedicated to redefining urban mixed-use properties and environments. Arc invests across the equity capital stack to target compelling risk-adjusted returns with downside protection.  In partnership with large institutional investors, Arc is currently pursuing urban real estate located primarily in the major metros of the Western United States. Through the lens of diversity and inclusion, Arc targets middle-market investments ($25 million to $100 million in gross asset value) that typically exhibit value-add business plans in primarily multicultural neighborhoods with strong demand fundamentals. For more information, please visit: arccapitalpartners.com.

For DJM Capital Press Contact:                                            For Arc Capital Partners Press contact:
Carolyn Lowe                                                                            Matt Pressberg, Vectis Strategies
[email protected]                                                           [email protected]

SOURCE DJM