Newport Beach, Calif. — RA Centers has arranged $72 million for the refinancing of a portfolio comprising four shopping centers. Located in Redlands, California, the first property, Orange Street Plaza, totals 155,000 square feet. Vons, Trader Joes, Office Depot and U.S. Bank anchor the center, which was 99 percent occupied at the time of financing. The second property, Front Gate Plaza, is located in Lancaster, California, and comprises 150,000 square feet. Stater Brothers, Goodwill, Wells Fargo, McDonalds, Taco Bell and The Habit anchor the center, which was 90 percent occupied at the time of financing. Pueblo Shopping Center in Pueblo, Colorado, was 90 percent occupied and is anchored by King Soopers, CATO, Dollar Tree, Dominos and Sally Beauty. Essencia Medical Facility, VA Clinic, Harbor Freight, Hobby Lobby, JoAnn’s Fabrics, Planet Fitness, LongHorn Steakhouse, Gate City Bank and Perkins anchor the fourth property, Gateway Fashion Mall. Located in Bismarck, North Dakota, the center totals 385,000 square feet and was 85 percent occupied at the time of financing. Raymond Arjmand of RA Centers secured the financing through JP Morgan with Logan Ahlers.
RA Centers Arranges $72 Million Refinancing for Retail Portfolio