LOS ANGELES—Agora Realty & Management hassecured a $23.5-million loan for Mason DevonshirePlaza, a 78,794-square-foot retail centeranchored by a Trader Joe's. The borrower will usethe funds to buy out its institutional equity partner.

“The loan provided the necessary leverage to re-capitalize theasset,” Kevin MacKenzie, HFFsenior managing director who led the charge to secure the funds onbehalf of the borrower, tells GlobeSt.com. “HFF and Agora workeddiligently to overcome one issue in cooperation with the lender tomake sure the loan stayed on track to close on time.” The loan hasa 10-year fixed-rate term, and was funded through LadderCapital Finance. In addition to securing the funds, HFF isalso servicing the loan.

Located at 10330 Mason Ave. in Chatsworth, the property is 100%to a tenant mix that includes Smart & Finaland Kahoots, in addition to its anchor tenantTrader Joe's, mentioned earlier. It was last renovated in 2004.