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California  + Inland Empire  + Finance  | 

Grocery-Anchored Riverside Center Recapitalized for $13M

Gantry secured a $12.8-million permanent loan to fund the recapitalization of a 99,000-square-foot grocery-anchored retail property within the Citrus Landing retail center in Riverside. Located at 7200 Arlington Ave., the property is anchored by Stater Bros, AutoZone and Ross.

Principals Braden Turnbull and George Mitsanas and associate Austin Ridge with the firm’s Los Angeles (El Segundo) production office secured the financing on behalf of the borrower, a private real estate entity. The five-year loan was provided by one of Gantry’s correspondent life company lenders and features an attractive fixed-rate, interest-only payments, and pre-payment flexibility in years four and five.

Ridge said, “The sponsor of the center’s recent redevelopment had reached a point in its original investment proforma that prompted an equity partner’s desire for redemption and returns. The fully stabilized center now features a mix of top-tier national and regional retailers driving traffic to what is a high-performing center.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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