July 12, 2017
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.
For comments, questions or concerns, please contact Dennis Kaiser