CLOVIS, CALIF. — Great Neck, N.Y.-based Uber Capital Group has secured a $28.7 million acquisition loan for the purchase of Sierra Vista Mall, located at 1050 Shaw Ave. in Clovis, a suburb of Fresno. The borrower is a private national commercial real estate investment group based in New York. The lender was not disclosed.
Joel J. Gorjian, president and founder of Uber Capital Group, sourced the 10-year, fixed-rate loan, which features 15-year full amortization and partial recourse.
Totaling 690,487 square feet, Sierra Vista Mall is occupied by 75 tenants and features an outdoor lifestyle section with restaurants and a 16-screen movie theater, as well as a community park with concert facilities, fountains and landscaping. The asset also includes a 3,878-car parking area.