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Riverside Shopping Center Secures $37M Financing
CBRE has secured $37 million in financing for Mission Grove Plaza, a 248,135-square-foot shopping center at 121 – 383 E. Alessandro Blvd. in Riverside. The team of Shaun Moothart, Bruce Francis, Doug Birrell and Bob Ybarra secured the fixed-rate, five-year term, full-term interest-only loan on behalf of Regional Properties, a California-based private real estate investment and development company.
“The financing of this shopping center adds to the $90 million in financing CBRE completed for Regional Properties along with a global institutional lender in the last two years,” said Moothart. “The entire team did a superb job navigating through extraordinary challenges amidst the volatility in the capital markets.”
The 16-building shopping center is anchored by Stater Bros. Markets, which leases 45,654 square feet. The center has 45 other tenants, including Galaxy Theaters, Bank of America, UPS, IHOP and Romano’s Chicago Pizzeria.
- ◦Financing
