IE Business Daily Business news for the Inland Empire.
A real estate investment, development and finance company has arranged a $19 million refinance loan for a neighborhood shopping center in Rancho Cucamonga.
BOLOUR, a private company in Beverly Hills, provided the 12-month cash-out refinance loan through its affiliate, BA Debt Fund LLC.
The shopping center is located at 8601 Base Line Road in the central part of the city. It is anchored by a Smart & Final store and is 99 percent leased.
The shopping center’s strong tenant mix helped make the loan possible, said Mark Bolour, the company’s chief executive officer.
“We tailored this loan to support the growth of the borrower’s portfolio,” Bolour said in the statement.
Refinancing commercial real estate can help investors get a better interest rate or a longer term, which increases their cash flow. Borrowers usually refinance in order to pay for improvements or to invest in other properties, according to commercialrealestateloans.com.
