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LAS VEGAS — Bellwether Enterprise Real Estate Capital has closed a $36 million permanent loan for Desert Marketplace, a shopping center located at the intersection of Warm Springs Road and Durango Drive in Las Vegas.
Grass River Real Estate Credit Partners REIT provided the financing, which features a $33 million loan placed with 3650 REIT through its CLBS platform and a $3 million mezzanine loan from a third-party lender. Shelley Magoffin and Max Sauerman of Bellwether Enterprise arranged the loan on behalf of the borrower, Durango Warm Springs III.
Smith’s, Walgreens, TJ Maxx, Petco and Big 5 Sporting Goods anchor the 200,000-square-foot shopping center.