LAS VEGAS — A pair of apartment communities in Las Vegas has received $70 million in financing. The new Class A communities are located just off U.S. Highway 95 and I-215 at Centennial Parkway in northwest Las Vegas.
The contiguous development contains 739 units, as well as amenities like fitness centers, clubhouses with multiple meeting rooms, resort-style pools with cabanas, and entertainment areas with outdoor fireplaces and gas grills.
Both loans featured 15-year loan terms with interest-only payments during the first five years, followed by a 30-year amortization schedule. The interest rates for the transactions were locked at 3.93 percent.
Financing was arranged by Tom Kenny and Josh Boehling of Grandbridge Real Estate Capital. Funding was provided through Fannie Mae’s DUS loan product.