Updated Oct 8, 2026
NorthPoint Development & BGO Secure $127.4 Million Refinance Loan From Oaktree Capital Management
11515 Donald Lee Adams Way
$127,400,000
$127/SF
Building Size
1,000,000 SF
Asset Type
Industrial
Closing
Oct 7, 2026
About this deal
AI
The asset involved in this transaction is a 1,000,000 square-foot industrial property located at 11515 North Donald Lee Adams Way in Las Vegas, NV, encompassing 59 acres. The property was financed through a refinancing loan amounting to $127,400,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $127,400,000
- Lender: Oaktree Capital Management
- Landlord: NorthPoint Development & BGO
- Previous Loan Amount: $72,900,000
- Previous Lender: Bank OZK
- Lease Commitment: Fully leased to Crocs’ HEYDUDE through December 2033
This refinancing loan was secured by NorthPoint Development and BGO for Building 1 of the North Vegas Logistics Center, replacing the previous construction loan. The transaction is significant for the financial positioning of the landlords in relation to their leasing commitments.
On the Map
$127,400,000
$127/SF
Industrial
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93