Gantry Secures $17M Refinance Loan For Magnolia Towne Center In Riverside

The Magnolia Towne Center, a 133,000-square-foot retail center located at 6033-6189 Magnolia Avenue in Riverside, California, was the subject of a $17 million permanent loan secured by Gantry. The retail center is anchored by a Ralph’s grocery store and Wells Fargo Bank. The loan, obtained by Senior Director James Ruiz, is a refinance with a 10-year fixed rate and 30-year amortization, enabling the private investor borrower to address a pending CMBS maturity and achieve cash out without a holdback.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $17,000,000
• Address: 6033-6189 Magnolia Avenue
• Market: Riverside
• Broker: James Ruiz - Gantry
• Loan Type: Refinance
• Loan Terms: 10-year fixed rate and 30-year amortization

Gantry's Senior Director James Ruiz represented the borrower in securing the $17 million permanent loan to refinance the Magnolia Towne Center in Riverside. The loan with its favorable terms allows the private investor to navigate an impending CMBS maturity and access cash without a holdback, ensuring the continued financial viability of this retail property.