Las Vegas
Infinity Obtains $5M SBA Construction Loan for Hospice Facility
Las Vegas will see a new assisted living facility take shape after a financing deal will help the developer get construction on track. TMC Financing recently issued a press statement announcing that it had provided developer Infinity Hospice Care of Las Vegas, LLC with an SBA 504 loan worth $4.98 million. The developer will use the funds in the development process of a new facility in Las Vegas. TMC Financing Business Development Office, Cindy Santilena, CCIM was in charge of the transaction.
George Smith Partners Secures $51M in Construction Financing for M-F Project in Las Vegas
George Smith Partners has arranged $51 million in construction financing for the development of Elysian at the District, a 360-unit Class-A multi-family community in Las Vegas, on behalf of a joint venture between The Calida Group and Cypress Equity Investments.
MIG Buys Office/Medical Office Complex in Henderson
The Las Vegas office market has seen consistent improvement over the past year, up to a point where important transactions once again take place. Recently a new portfolio transaction was announced by real estate investment company MIG Real Estate. The Newport Beach-based entity acquired an eight-property office/medical office package located in Henderson for an undisclosed amount. A CBRE team arranged the transaction on behalf of the seller.
Rialto Capital, Kismat Investments Pay $10M for N. Las Vegas Strip Mall
In mid-January, a retail property in North Las Vegas traded hands when Faris Lee Investments completed a deal between seller TNP SRT Craig Promenade, LLC and new owner RREF II-KI Promenade LLC. The buyer, a joint venture between real estate companies Rialto Capital and Kismat Investments agreed a deal worth $10.1 million. The property that was the object of the transaction is Craig Promenade, a strip retail center occupying a 10.81-acre site in NLV.
Griffis Residential Pays $43M for Luxury M-F Asset in Summerlin
With the amount of deals rising in recent weeks, and the single family home market up in 2013 in terms of prices, the residential market seems to be tightening up and proving its appeal to investors. Recently, a Denver-based multifamily investment and management company completed a deal for the acquisition of yet another Las Vegas residential property. Griffis Residential paid a purchase fee of $43.2 million for The Wellington, a luxury apartment community in Summerlin.
Residential Market’s Strong Finish Points To More Gains in 2014
Las Vegas finally had a full good year in terms of its housing market prices. The end of 2013 marked continued gains for the local market, as data issued by the Greater Las Vegas Association of Realtors indicates. December saw prices rising once again, prepping the new year, which according to industry specialists, will one of steadier gains, and stabilization.
KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M
By Alex Girda, Associate Editor, and Paul Rosta, Senior Editor Las Vegas’ residential market ended 2013 with a flurry of high-profile multi-family transactions. In a $237 million deal, KRE Capital and Dune Real Estate Partners teamed up to acquire five residential properties comprising 1,435 rental and condominium units, VegasINC.com reports. The seller, ST Residential, was […]
Henderson’s $1.6B Union Village Wins Hospital Commitment from Valley Health
For a while now, a massive health care-centric development has caught the attention of media outlets as the ambitious project aimed to create a new community in Henderson, relying mainly on a number of facilities aimed at providing quality health care for the region. Union Village is set to cost a total of $1.6 billion dollars, to be developed by master planner Union Village LLC over a number of years. Now, Valley Health System has expressed serious interest in being taking over the centerpiece of the community, the acute-care hospital that will act as the anchor tenant for the village.
Juno Plans Fall 2014 Opening for Bazaar-Flavored Retail Project on the Strip
With the office market showing signs of life and the residential market having its best year since the downturn, Las Vegas’ retail market has also seen important boosts in terms of new projects and completions. One of the largest projects of its kind, the Grand Bazaar Shops will attempt to breathe new air into the Las Vegas Strip’s retail profile, betting big on a vibrant new concept of commerce, right at the entrance to Bally’s Las Vegas.
MVP Wraps $55M Office Acquisition as Market Shows Signs of Reversing Decline
A few weeks ago it was revealed that an office deal is going on where MVP Real Estate Investment Trust Inc kept closing deals for buildings part of a local office park. Now the company has completed yet another deal, this time for the final asset in the campus at 8945 W. Post Road. MVP acquired the property for a fee of $6.1 million, a press statement issued by the company indicates.