News By Tag
News By Location
Dekel Capital arranges $41million of financing for Class A office acquisition in Northwest Las Vegas
By: Dekel Capital
A $28,500,000 first mortgage loan was funded by Prime Finance to acquire the property. The balance of the capitalization was funded through a joint-venture equity investment between Moonwater and an institutional private equity fund.
Dekel sourced the total debt and equity capital stack for this project. "This deal highlights Dekel's ability to help our clients source the entire capital stack" said Shlomi Ronen. "Due to the nature of the lease expirations at the property, we offered Moonwater a number of debt and equity structures to address several possible outcomes as they were finalizing their business plan for the property."
Built in 2008, 6605 Grand Montecito Parkway is 90% leased to two strong local and national tenants. The property provides an opportunity for the ownership group to create value through lease up of the remaining vacant space and developing standalone retail on the vacant parcel.
About Dekel Capital:
Dekel Capital is a Los Angeles-based real estate merchant bank with proven expertise in capital market advisory and private equity in commercial real estate. The firm serves an elite group of commercial real estate operators, investors and developers with an exclusive, boutique approach, allowing them to create tailored solutions that address unique capital challenges. For more information, please visit http://www.dekelcapital.com
About Moonwater Capital:
Moonwater Capital is a Las Vegas based boutique private equity real estate fund led by Mr. Ofir Hagay. The company specializes in value-added investments, particularly real estate opportunities in the greater Las Vegas and metropolitan surrounding areas. Moonwater Capital leverages its deep knowledge, relationships, and global experience to identify, secure, and profit from strategic real estate projects that also impact the city of Las Vegas by way of job creation and community development. Additional information can be found at: www.moonwatercapital.com.