Mortgage Investments Plus, a real-estate investment trust in Woodland Hills, agreed to be a partner in the development of a $16-million shopping center in Castro Valley, a community in Alameda County about 25 miles southeast of San Francisco.
Mortgage Investments said it will provide $2.5 million in equity to develop the center and will earn an 11% return on that investment. A construction loan of $13.5 million will be provided by a third-party lender. The project's general partner and developer is Oewel Partners Ltd.
