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3000 South Rancho Drive

Fisher Brothers Lands $161 Million Construction Loan For Immersive Retail In Las Vegas
FINANCEDMixed-use

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:

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

Aaron Appel

Walker & Dunlop

Broker

$32.5B

vol

195 deals

Broker
Acore Capital
Acore CapitalLender

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