IE Business Daily Business news for the Inland Empire.
A Corona power center has obtained $140 million in new financing.
Crossings at Corona, at the northeast corner of Interstate 15 and Cajalco Road, is next door to a Target store and is sub-anchored by Marshall’s, Kohl’s, Ross, HomeGoods, Sportsman’s Warehouse, Burlington, and Edward’s Theatre, among other national retail and restaurant tenants, according to a statement.
The 834,000-square-foot facility was built in 2005. More than 200,000 vehicles pass by the site on a typical day. The refinancing was arranged by JLL and funded through Deutsche Bank AG.
Commercial property owners arrange refinancing for a number of reasons, including helping investors get a better interest rate, increasing their cash flow, or to get cash to make renovations or improvements on the property.
