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12/01/16
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Angelo, Gordon & Co recently financed two multifamily properties in Las Vegas with $27 mil in Fannie Mae money arranged by Meridian Capital Group.
The properties, Tower at Tropicana, located at 6575 West Tropicana Ave, and Gloria Park Villas, located at 3025 South Decatur Blvd, total 500 units and have become highly desirable rental properties because of the luxury amenities and close proximity to the Las Vegas Strip, as well as three major freeways. All apartments feature spacious floorplans with fireplaces, balconies and gourmet kitchens. Community amenities include hot tubs, pools, barbeque areas, spas and picnic areas. Tenants enjoy direct access to the Interstate 15, U.S. Route 95, U.S. Route 93 and a 15-minute to McCarran International Airport.
The 10-year Fannie Mae loan, provided by Capital One Multifamily Finance, features a floating interest rate with a spread below 2.00% over LIBOR and 10 years of interest-only payments. Meridian’s Kovi Elkus and Seth Grossman arranged the transaction.
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