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3/24/15
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Angelo, Gordon & Co and City Center Realty Partners LLC have obtained $50 mil in bridge loan financing for Bank of America Plaza, a 16-story, Class A office tower in Las Vegas, NV. Located at 300 South 4th St, the 270.2k sf office building is situated in the heart of the city’s Downtown.
The financing was arranged by Shawn Rosenthal and Bob Ybarra of CBRE Capital Markets’ Debt & Structured Finance team. It was provided by Prime Finance.
"The transitional bridge loan will be used to refinance existing debt and provide for future leasing costs to bring the asset back to stabilization,” said Rosenthal. “The recent investment in the lobby and ground floor retail, coupled with a strong improving market bodes well for the ownership and the future of this great tower."
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