Reno, Nev. — Continental Partners has arranged an $11.3 million loan for the acquisition of Mira Loma Shopping Center in Reno.
CVS/pharmacy and Scolari’s Grocery anchor the 102,782-square-foot retail center, which was 92 percent leased at the time of sale. J.M. Grimaldi of Continental Partners arranged the loan on behalf of the borrower, a Los Angeles-based private investor. The borrower plans to implement light value-add renovations to the center, as well as remediate environmental contamination issues remaining due to a former tenant.