Vestin Realty Mortgage II Invests $5 Million in Mixed-Use Project in Las Vegas

Strategic Insights -

Vestin Realty Mortgage II, Inc. has made a significant investment of $5.0 million in an $8.5 million loan for a mixed-use project in Las Vegas, Nevada. The project, which is secured by 10 acres of land, will feature 320 mid-rise condominium units, 100,000 square feet of retail space, and 60,000 square feet of office space. The loan has a one-year term with four extension periods of three months each and is guaranteed by the owners of the borrower. Vestin Realty Mortgage I, Inc. and Vestin Fund III, LLC are also participating in the loan.

Key Takeaways:

  • Vestin Realty Mortgage II, Inc. has invested $5.0 million in an $8.5 million loan for a mixed-use project in Las Vegas, Nevada.
  • The project will feature 320 mid-rise condominium units, 100,000 square feet of retail space, and 60,000 square feet of office space on 10 acres of land.
  • The loan has a one-year term with four extension periods of three months each and is guaranteed by the owners of the borrower.
  • Vestin Realty Mortgage I, Inc. and Vestin Fund III, LLC are also participating in the loan.
  • Vestin Mortgage, Inc., the manager of Vestin Realty Mortgage II, Inc., has facilitated over $1.8 billion in lending transactions since 1995.
  • The investment is a significant step forward for Vestin Realty Mortgage II, Inc.'s strategy to invest in short-term secured loans to commercial borrowers.

Statistics:

  • $5.0 million: The amount invested by Vestin Realty Mortgage II, Inc. in the loan for the mixed-use project.
  • $8.5 million: The total amount of the loan originated by an affiliate of Vestin Mortgage, Inc.
  • 320: The number of mid-rise condominium units planned for the project.
  • 100,000: The square footage of retail space planned for the project.
  • 60,000: The square footage of office space planned for the project.
  • 10: The number of acres of land secured by the loan.
  • 1: The number of year the loan has a term.
  • 4: The number of extension periods of three months each for the loan.

Sources:

  • "Vestin Realty Mortgage II, Inc. Invests in Mixed-Use Project in Las Vegas" press release, Vestin Realty Mortgage II, Inc.
  • Vestin Realty Mortgage II, Inc.'s website, vestinrealtymortgageii.com