GK Real Estate Secures $36.4 Million Loan For Lake Mead Crossing In Henderson, NV

Lake Mead Crossing is a retail property located at 358 West Lake Mead Parkway in Henderson, NV. The asset encompasses 379,982 square feet and spans across 57.5 acres. GK Real Estate secured a mortgage financing of $36.4 million for this property along with an adjacent parcel for future development. The financing is structured as a five-year, fixed-rate loan.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $36,400,000
• Loan Terms: five-year, fixed-rate
• Landlord: GK Real Estate
• Broker: Maverick Commercial Mortgage
• Parcel Area: 57.5 acres
• Square Footage: 379,982 SF

Maverick Commercial Mortgage played a pivotal role in arranging the financing, which included an $28 million loan on the shopping center and an additional $8.4 million loan for the adjacent land. GK Real Estate intends to sell individual parcels as part of their strategy to repay the debt.