Natixis Provides $35.0 Million Financing on Las Vegas Grocery-Anchored Power Center
Natixis originated a $35.0 million floating-rate loan on Sahara Center for EHB Companies, a Las Vegas-based developer, for the refinance and lease-up of a 209,928 square foot grocery-anchored power center with a strong roster of national tenants including Sprouts Farmers Market, T.J. Maxx, HomeGoods, Petco, Stein Mart and others.
Initial loan proceeds of $28.0 million were used to retire the existing construction loan and an additional $7.0 million is earmarked for future leasing.
The property is located in Summerlin, one of the most affluent Las Vegas suburban communities and named one of the “Best Places to Live in America” by Money Magazine in 2014. The center is well located within a mile of Downtown Summerlin and the Red Rock Resort Casino & Spa.
The financing was arranged by Scott Monroe from the office of NorthMarq Capital in Las Vegas, Nevada.