Newport Beach, CA-based commercial banking firm MetroGroup Realty has secured acquisition financing to close a 1031 exchange transaction for a pair of office properties in the Inland Empire. The loans include $7.6 million for a 62,000-square-foot asset in Corona, CA and $15 million for a 178,000-square-foot office park in San Bernardino, CA (pictured).

“The borrower recently sold an industrial property in Monrovia, CA and was seeking reliable financing terms in order to secure the trade property and take advantage of a 1031 exchange opportunity,” said MetroGroup VP Ivan Kustic who arranged the financing. “The attractive yields for these assets coupled with strong fundamentals made these investments worthwhile for our client.”

The loan to support the Corona asset has an interest rate in the high-4% range with a 60-day rate lock and 25-year amortization. The loan for the San Bernardino office park has a 75-day rate lock, 30-year amortization and a low-5% interest rate.