Thursday , June 13 2024
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Shopping center gets refinanced

A 133,00-000-square-foot grocery-anchored shopping center in Riverside is being refinanced.

Magnolia Towne Center has received a $17 million permanent loan arranged by Gantry Inc., commercial real estate firm with offices in Los Angeles, San Francisco and throughout the United States, according to a statement.

Tenants include Ralphs, Wells Fargo Bank and several restaurants. Ownership is leasing 27,000 square feet at the center. The 10-year, fixed rate, loan features 30-year amortization and prepayment flexibility, according to the statement.

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