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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.
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.3 billion, a Basel 3 CET1 Ratio(1) of 11.4% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in
Figures as at 31 March 2020.
