Ovation Development Secures $63.2 Million Loan To Refinance Aspire At Redwood In Las Vegas
6755 West Arby Avenue
$63,200,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 15, 2025
AI
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
Las Vegas MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93