LOS ANGELES/LAS VEGAS, October 4, 2017. Dekel Capital, a Los Angeles-based real estate merchant bank that specializes in sourcing and placing equity and debt for active middle market commercial real estate developers and investors, today announced it recently arranged financing on behalf of Moonwater Capital, founded by Ofir Hagay – for the acquisition of two adjacent Class A, low-rise office buildings located in the burgeoning Southwest Las Vegas submarket.
An $18,340,000 first mortgage floating rate loan was funded by MidCap Financial for a term of up to four years. Loan proceeds were used to acquire the property and fund lease-up expenses, a portion of which has been allocated towards a newly executed lease. The balance of the capitalization was funded through a joint-venture with an institutional value-add private equity fund that was arranged by Dekel.
“This deal highlights Dekel’s ability to help our clients source the entire capital stack” said Shlomi Ronen, “as deal activity has increased it’s getting harder for Sponsors to get the attention of Capital, the personal relationships we have built with Capital over the years have enabled us overcome this challenge.”
Built in 2007, 8912 & 8918 Spanish Ridge Avenue features a strong and varied tenant mix, direct freeway access, and provides immediate value-add opportunities through additional lease-up.
About Moonwater Capital:
Moonwater Capital was founded in 1997. Since its inception, they have leveraged their deep knowledge of Real Estate, strong relationships in the investor and real estate communities, and global experience to identify, secure and profit from real estate projects. They are a company that is intimately involved in our projects, values transparency with our investor partners, committed to in our relationships and has a track record of successful project based returns. Constantly in motion, they continue to seek unique projects and the investment capital to create extraordinary results.