Mortgage Investments Plus Joins $16-Million Venture

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.

Mortgage Investments invests in real estate and passes along rental income, capital gains, interest income and other proceeds to its own investors. The company has $119 million invested in its real-estate portfolio.