CBRE Capital Markets’ Debt & Structured Finance team has arranged $50 million in bridge loan financing for Bank of America Plaza, a 16-story, Class A office tower in Las Vegas, Nevada.
Financing was facilitated by Shawn Rosenthal, executive vice president in CBRE’s Midtown Manhattan office, with local guidance from Bob Ybarra, vice president in CBRE’s Las Vegas office.
CBRE worked on behalf of Angelo, Gordon & Co. and City Center Realty Partners, LLC, with financing provided by Prime Finance.
“The transitional bridge loan will be used to refinance existing debt and provide for future leasing costs to bring the asset back to stabilization,” said Rosenthal.
“The recent investment in the lobby and ground floor retail, coupled with a strong improving market bodes well for the ownership and the future of this great tower.”
Located at 300 South 4th Street, the 270,234 s/f office building is in the heart of Downtown Las Vegas.