$35 MM in Debt & Equity – Acquisition Financing
Joint venture equity and long-term, fixed-rate debt for acquisition of a 262,000-SF Class A office building in Las Vegas, NV
- Asset benefited from low cost basis and strong cash flow from large credit tenant
- Sponsor desired to acquire the property as a core plus asset to add to their growing commercial office portfolio in the Las Vegas market
- Sponsor was seeking prepayment flexibility and high probability of closing during Pandemic
Dekel Capital received strong interest from the investment community and brought in a private REIT managed by Realty Mogul for the majority of the equity. In addition, Dekel arranged $23.845 million in long-term, first mortgage debt from a West Coast-based regional bank.