October 11, 2018
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CBRE’s Capital Markets’ Debt & Structured Finance team arranged a $24.3 million loan for the refinance of Stater Bros. Plaza, a neighborhood retail center in Chino, CA. The borrower was Euclid Plaza LLC.
Located at 6989 Schaefer Ave., the property is situated on 6.86 acres and consists of 73,641 square feet of rentable area. The center, built in 2008, is anchored by Stater Bros. Market and includes a strong lineup of national, credit, and regional tenants.
CBRE’s Marina Massari and Sharon Kline arranged the 36-month interest-only, five-year loan for the borrower through Buchanan Mortgage Holdings, a division of Buchanan Street Partners. Buchanan Street Partners, represented by Joseph Maehler, provided a highly flexible capital structure with a quick close.
“The center features a great balance of retail, restaurant and service offerings, which drives cross-traffic between retailers in the center,” said Massari.
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