Calmwater Capital Provides $36.7 Million for Mountains Edge Marketplace in Las Vegas
The soon-to-be retail center will have more than 100,000 square feet of leasable space
WASHINGTON, D.C. – (RealEstateRama) — Calmwater Capital, a leading, national direct real estate lender, has originated a $36.7 million loan for Remington Nevada to refinance existing debt and finance remaining construction of the Mountains Edge Marketplace in southwest Las Vegas. Once completed, the 101,000-square-foot retail property, anchored by Albertsons, will be located at the corner of Blue Diamond Road and South Buffalo Drive, adjacent to the Mountains Edge master planned community.
The Calmwater-provided credit facility comprises a $16.6 million senior secured term loan and a $20.1 million delayed draw term loan for future construction costs, tenant improvements and leasing costs.
Mountains Edge Marketplace is located at the entrance to the 14,000-home, Mountains Edge Master Planned Community, one of the top-selling master planned communities in the country from 2010 to 2014. The property’s grocery anchor tenant, Albertsons, opened its 55,000-square-foot store in April. Remington Nevada has secured a variety of regional and national tenants which will open doors upon the property’s completion including Chase Bank, Burger King, Del Taco and Orange Theory Fitness.