February 21, 2017
Buchanan Street Partners, headquartered in Newport Beach, CA, provided a $25 million bridge loan to Euclid Plaza LLC for Stater Brothers Plaza, a 73,641 square-foot retail center in Chino, CA. CBRE’s Marina Massari and Sharon Kline represented the borrower in the refinancing. Buchanan Street represented itself.
“We were attracted to this financing opportunity due to its secure in-place cash flow, strong tenant sales per square foot, diverse mix of internet-resistant retail tenants and significant amount of residential growth planned for the area,” said Buchanan Street’s Matthew Doerr.
Built in 2008, the top-performing grocery-anchored shopping center is 96% leased to such tenants as Stater Bros., Sprint and Subway. The site, at 7041 Schaefer Ave., could also add another 21,300 square feet of retail development.
For comments, questions or concerns, please contact Dennis Kaiser