California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + Inland Empire  + Retail  | 

Acquisition Financing Secured for Moreno Valley Value-Add Center

Newport Beach, CA-based MetroGroup Realty Finance provided $8.2 million in financing for the acquisition of Stoneridge Towne Center, a value-add retail center in Moreno Valley, CA. MCA Realty purchased four multi-tenant retail buildings and two retail boxes totaling 117,191 square-feet, as well as four pads available for future development encompassing 5.24 acres.

The assets are located at 27110, 27120, 27130, 27140, 27190, and 27220 Eucalyptus Ave.

MetroGroup’s Scott Botsford arranged the financing. The sponsor plans to reposition the center in order to appeal to today’s shoppers, and was looking for competitive financing that would allow it to fully execute its business plan, according to Botsford.

The Irvine, CA-based sponsor acquired the asset at 50 percent below its replacement cost, and plans to make improvements throughout the center, as well as reshape the existing tenant mix to appeal to today’s consumers.


Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With MCA RealtyConnect With MetroGroup’s Botsford

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
New call-to-action
New call-to-action
AvatarFinancialGroup-02-cube
KidderMathews-05-cube