1950s-Era Center Gets $6-Million Rehab Loan

A permanent rehabilitation loan totaling $6 million, with an immediate funding of $4.7 million, has been arranged by George Smith/Grubb & Ellis Financial Services for a 30-year-old anchored shopping center in the Baldwin Hills area.

The loan, placed with Bel-Air Savings & Loan Assn., will be used for a two-phase renovation of the 115,000-square-foot project at the southwest corner of La Brea Avenue and Rodeo Drive, built in the mid-1950s.