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 team of Shaun Moothart, Bruce Francis, Doug Birrell and Bob Ybarra secured the fixed-rate loan with five years term and full interest only payment structure from an institutional lender.
Moothart commented: “The financing of this shopping center adds to the $90 million CBRE completed for Regional Properties along with our global institutional lender over the past two years despite market volatility.”
Mission Grove Plaza is anchored by Stater Bros Markets occupying 45 654 square feet while other tenants include Galaxy Theaters Bank of America UPS IHOP Romano’s Chicago Pizzeria among others totaling 45 businesses operating within its 16 buildings .
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