Fisher Brothers Lands $161 Million Construction Loan For Immersive Retail In Las Vegas
3000 South Rancho Drive
$161,000,000
$556/SF
Building Size
289,205 SF
Asset Type
Mixed-use
Closing
Dec 31, 2024
AI
The asset involved in the transaction is an immersive retail property located at 3000 South Rancho Drive in Las Vegas, NV. This property has a total square footage of 289,205. The loan amount for the transaction is $161,000,000, classified as a construction loan.
Summary of transaction details:
- Property Type: Immersive Retail
- Transaction Amount: $161,000,000
- Lender: Laura Rapaport - North Bridge; Tony Fineman & Kory Klebanoff - ACORE Capital
- Landlord: Winston Fisher, Sam Rosenberg & Lucas Schulman - Fisher Brothers
- Brokers: Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Michael Ianno, Michael Diaz & Christopher de Raet - Walker & Dunlop
The key individuals facilitating this transaction include lenders Laura Rapaport from North Bridge, and Tony Fineman and Kory Klebanoff from ACORE Capital. The landlords, Winston Fisher, Sam Rosenberg, and Lucas Schulman, represent Fisher Brothers in this deal. The brokerage team is comprised of multiple brokers from Walker & Dunlop, highlighting the collaborative effort in securing the loan for the property.
Players
Las Vegas Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93