Firm Gets Loan to Buy, Expand 2 Shopping Centers

Field/La Cagnina Associates has obtained a loan for more than $12 million to purchase, expand and rehabilitate two Los Angeles shopping centers.

The Beverly Hills-based partnership plans to add about 10,000 square feet of retail space to the 70,000-square-foot Hollywood Plaza at Santa Monica Boulevard and Vermont Avenue. Another 2,500 square feet will be added to the 39,000-square-foot Sherman Plaza at Sherman Way and Winnetka Avenue, Canoga Park.

Each plaza will remain anchored by Thrifty Drug & Discount Stores.