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Ovation Development Secures $63.2 Million Loan To Refinance Aspire At Redwood In Las Vegas
FINANCED
$63,200,000
Nevada
See Similar DealsMultiFamily
Financed 10/15/2025
FINANCED
Ovation Development Secures $63.2 Million Loan To Refinance Aspire At Redwood In Las Vegas
6755 West Arby Avenue
See Similar DealsMultiFamily
Financed 10/15/2025
Summary
NEVADA
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is a 302-unit Class A apartment community located at 6755 West Arby Avenue in southwest Las Vegas, NV. The transaction involves a refinance loan amounting to $63,200,000. The property represents a significant investment in the Las Vegas multifamily market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $63,200,000
- Address: 6755 West Arby Avenue
- Market: Las Vegas, NV
- Asset Units: 302
- Loan Type: Refinance
- Loan Terms: 10-year, fixed-rate
- Brokers: George Mitsanas, Chris Funai & Austin Ridge - Gantry
- Developer: Ovation Development
The financing for this transaction was arranged by Gantry, which secured a permanent loan to refinance construction debt for the development. The loan is serviced by Gantry and was provided by a life company correspondent.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$63,200,000.00
Monthly NOI$421,333.33
Monthly Debt Service$399,466.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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