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Paragon Commercial Group and Brasa Capital Management have acquired Huntington Oaks, a 328,711-square-foot shopping center in Monrovia, Calif., for $79.4 million, according to public records. Bend Properties was the seller, CommercialEdge data shows.

Gantry secured a $55.9 million loan for the acquisition. The five-year, fixed-rate financing was secured through The Lincoln National Life Insurance Co. and underwritten as a full-term interest-only loan.

The acquisition encompasses 251,000 square feet of leasable space. The shopping center was developed in several phases, between 1981 and 2011. Huntington Oaks comprises 11 buildings spread on some 22 acres.