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Warm Springs Plaza
Las Vegas, NV | September 2018
Thorofare Capital has funded an $8,450,000 short-term bridge loan for the refinance of a 71,200 SF neighborhood retail center known as Warm Springs Plaza located in Las Vegas, Nevada.
The Sponsor built the three-building property in 1990 and has since invested capital improvement dollars to carry the property at stabilization. Anchored by 99 Cents Only Store, the property is 90.5% leased to national, regional and local tenants.
The one year, interest-only bridge loan will be used to pay off a maturing loan while the property is marketed for sale. The Sponsor is a Southern California based high net worth investor with extensive experience acquiring and managing commercial assets nationwide.