CBRE has secured $37 million in financing for Mission Grove Plaza, a 248,135-square-foot shopping center located at 121 – 383 E. Alessandro Blvd. in Riverside on behalf of Regional Properties, a California-based private real estate investment and development company. The fixed rate loan was issued with a five year term and full interest only payments over the duration of the loan period.
Shaun Moothart led the CBRE team which included Bruce Francis, Doug Birrell and Bob Ybarra to secure this financing amidst volatile capital markets conditions due to extraordinary challenges faced during this time period. “The entire team did an outstanding job navigating through these difficult times” said Moothart who also noted that this transaction adds to another $90 million worth of financings completed by CBRE for Regional Properties along with global institutional lenders within two years prior to closing date on Mission Grove Plaza Shopping Center project .
Anchored by Stater Bros Markets (45654 sqft), 45 other tenants including Galaxy Theaters , Bank Of America , UPS , IHOP & Romano’s Chicago Pizzeria have leased space at 16 building shopping center making it one of Riverside’s most popular destinations .
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