Howard Hughes Obtains $75 Million Refinance Loan For 266K SF Office In Las Vegas

The office building located at 1700 South Pavilion Center Drive in Las Vegas, NV has a total square footage of 266,000. This 10-story property was completed in 2022 and includes features focused on tenant wellness and sustainability. The loan amount secured for this property is $75,000,000 through a refinance loan with terms set for five years at a fixed rate.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $75,000,000
• Address: 1700 South Pavilion Center Drive
• Market: Las Vegas, NV
• Asset Size: 266,000 SF
• Landlord: David O'Reilly - Howard Hughes
• Broker: Bob Ybarra - CBRE
• Loan Type: Refinance
• Loan Terms: five-year, fixed-rate

Bob Ybarra from CBRE arranged the refinancing for the property, which is fully stabilized. This transaction highlights the ongoing efforts of Howard Hughes in managing and optimizing their real estate portfolio in a significant market like Summerlin, Las Vegas.