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CBRE Secures $37M Loan For Mission Grove Plaza In Riverside

Property Image
FINANCED
$37,000,000
Doug Birrell
Bruce Francis
Shaun Moothart
+ 1

California

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Retail248,135 SF
Financed 06/14/2023
the dealplayerscompscontact
Property Image
FINANCED

CBRE Secures $37M Loan For Mission Grove Plaza In Riverside

121 E Alessandro Blvd Riverside, CA 92508, USA

See Similar Deals
Retail248,135 SF
Financed 06/14/2023
Doug Birrell
Bruce Francis
Shaun Moothart
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$149
Total Square Footage:248,135 SF
Transaction Type:Loan

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.

Players

Bruce Francis
CBRE
Bruce Francis
18 deals$717.8M volume(602) 524-0826
BROKER
Doug Birrell
CBRE
Doug Birrell
18 deals$622.8M volume
BROKER
Robert (Bob) Ybarra
CBRE
Robert Ybarra
20 deals$897.8M volume
BROKER
Shaun Moothart
CBRE
Shaun Moothart
21 deals$793.5M volume
BROKER
RL
Regional Properties LP
LANDLORD

Details

FINANCED
IMAGE: Shaun Moothart, Doug Birrell, Bruce Francis & Bob Ybarra DATE: 06/14/2023 ADDRESS: 121-383 East Alessandro Boulevard MARKET: Riverside ASSET TYPE: Retail ~ SF: 248,135 LANDLORD: Regional Properties BROKERS: Shaun Moothart, Bruce Francis, Doug Birrell & Bob Ybarra - CBRE (@CBRE) LOAN AMOUNT: $37,000,000 LOAN TYPE: Refinance LOAN TERMS: fixed-rate, five-year term, full-term interest-only loan NOTE: CBRE secured $37 million financing for Mission Grove Plaza, a 248,135-square-foot shopping center in Riverside, on behalf of Regional Properties. The loan adds to the $90 million CBRE has previously secured for the company amid market challenges.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$37,000,000.00

Monthly NOI$246,666.67
Monthly Debt Service$233,865.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00