Clearinghouse CDFI (CCDFI) provided a $11,000,000 loan to acquire full ownership of Vermont-Slauson Shopping Center. This strategic financial move empowers the local economic development corporation to take sole control of the property and implement planned improvements.
The Vermont-Slauson Shopping Center, located in a bustling area of Los Angeles, comprises a mix of 161,900 square feet of retail space with high-profile tenants like CVS, Ross, and McDonald’s. This financing facilitates the property’s transition under full local ownership and supports minor property enhancements and working capital needs. The project bolsters the local economy by ensuring continuation of a vibrant shopping environment while retaining and attracting tenants, offering employment and services in the community.
Vermont-Slauson Economic Development Corporation (VSEDC), established in 1979, is pivotal in the revitalization of South Los Angeles. Dedicated to economic empowerment and community revitalization, VSEDC uses this acquisition to further its mission, providing a stable economic base for the community and fostering ongoing development and prosperity in the area.
Read the full story here: Just Funded – Vermont-Slauson Shopping Center
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