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LAS VEGAS, NV - CBRE Capital Markets’ Debt & Structured Finance group has secured $35.65 million in construction financing for the development of Olympic and Mountain Vista Apartments, a planned 300-unit, garden style multifamily community in Henderson, Nev.
CBRE’s Bob Ybarra, Bruce Francis, Shaun Moothart, Dana Summers, Doug Birrell and Jennifer Ansari worked on behalf of the borrower, a joint venture between Tradewind Properties and American Nevada Company, to obtain a three-year interest only loan through Washington Federal Bank.
“COVID-19 certainly made the marketing of the loan more difficult, but I’m very pleased with the terms that we were able to obtain for our client. We ended up with a lower floor rate (3.25%) and higher loan amount than what the pre-COVID-19 terms were by running a competitive bid process to identify the outlier lender,” said Bob Ybarra, Senior Vice President, CBRE. ....

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