Eagle Group Finance provided a private borrower with a $2.5 million loan to refinance an office building located in a prestigious suburb of Las Vegas, Nevada. The building, located at the northeast corner of Hualapai and the 215 Beltway, is currently 98% occupied, and boasts a 50 foot digital marquee reader, as well as ample parking space and high-quality finishes throughout. The 18-month, non-recourse, interest-only loan will be used to refinance an existing loan and buy out a current partner.
The borrower owns numerous properties in the Las Vegas area and has an in-depth knowledge of the market. He plans to put the building on the market after the loan closing.