November 28, 2016
Chicago-based Cohen Financial arranged an $8.9-million loan for Town Center Square in Rancho Cucamonga, CA on behalf of an undisclosed private investor. The 60,553-square-foot Class A shopping center is located in an established retail corridor.
Town Center Square is fully leased to Aldi supermarket, Office Max and Barnes & Noble. Aldi recently signed a 12-year lease, and the other two tenants have been in the center since it opened in 1996.
Cohen Financial’s Cathy Bronkema secured the fixed-rate, non-recourse 15-year term loan with a flexible prepayment structure and a 25-year amortization schedule with a private balance-sheet lender. The transaction facilitated a payoff of an existing bridge loan.
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