July 12, 2017 Comments Off on Calmwater Secures Financing for Las Vegas Retail Center Views: 923 National News, Nevada, West

Calmwater Secures Financing for Las Vegas Retail Center

Calmwater Capital originated a $36.7-million loan for Nevada-based Remington Nevada to refinance existing debt and finance remaining construction of the Mountains Edge Marketplace in southwest Las Vegas. The 101,000-square-foot retail property, anchored by Albertsons, is located at the corner of Blue Diamond Road and South Buffalo Drive.

The credit facility comprises a $16.6-million senior secured term loan and a $20.1-million delayed draw term loan for future construction costs, tenant improvements and leasing costs.

Remington Nevada acquired the 21-acre site adjacent to Mountains Edge, a 14,000-home master-planned community, in 2015. The property is slated for final completion in late 2018, and is one of the few grocery-anchored shopping centers to be developed in the immediate area.

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