Gantry secured a $12.8-million permanent loan to fund the recapitalization of a 99,000-square-foot grocery-anchored retail property within the Citrus Landing retail center in Riverside. Located at 7200 Arlington Ave., the property is anchored by Stater Bros, AutoZone and Ross.

Principals Braden Turnbull and George Mitsanas and associate Austin Ridge with the firm’s Los Angeles (El Segundo) production office secured the financing on behalf of the borrower, a private real estate entity. The five-year loan was provided by one of Gantry’s correspondent life company lenders and features an attractive fixed-rate, interest-only payments, and pre-payment flexibility in years four and five.

Ridge said, “The sponsor of the center’s recent redevelopment had reached a point in its original investment proforma that prompted an equity partner’s desire for redemption and returns. The fully stabilized center now features a mix of top-tier national and regional retailers driving traffic to what is a high-performing center.”