Updated Oct 29, 2024
CBRE Secures $37M Loan For Mission Grove Plaza In Riverside
121 E Alessandro Blvd Riverside, CA 92508, USA
$37,000,000
$149/SF
Building Size
248,135 SF
Asset Type
Retail
Closing
Jun 14, 2023
About this deal
AI
CBRE has secured a $37 million financing for Mission Grove Plaza, a 248,135-square-foot retail property located at 121-383 East Alessandro Boulevard in Riverside. The loan, which was obtained on behalf of Regional Properties, is a refinance type with fixed-rate terms. It has a five-year term and offers a full-term interest-only payment structure.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $37,000,000
- Address: 121-383 East Alessandro Boulevard
- Market: Riverside
- Landlord: Regional Properties
- BROKERS: Shaun Moothart, Bruce Francis, Doug Birrell & Bob Ybarra - CBRE
- Loan Type: Refinance
- Loan Terms: fixed-rate, five-year term, full-term interest-only loan
Shaun Moothart, Bruce Francis, Doug Birrell, and Bob Ybarra from CBRE were the brokers responsible for securing the loan. This financing adds to the $90 million previously secured by CBRE for Regional Properties, demonstrating their ability to navigate challenging market conditions.
On the Map
$37,000,000
$149/SF
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93