Canyon Capital Finances Early Stages of Las Vegas Mixed-Use Project.BEVERLY HILLS Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. , Calif. -- Inspired by NYC's East Village, planned retail and office complex across from McCarran Airport will cater to residents and visitors A $25 million bridge loan from Canyon Capital Realty Advisors is helping launch the development of a vibrant urban village planned for a prime location across from Las Vegas' airport. Called East Village and inspired by New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City's creative neighborhood, the mixed-use project will offer local residents and visitors a premier shopping, work and entertainment experience unlike any other in America's fastest-growing city. The recent bridge loan from Canyon Capital allowed the developers, East Village Partners, to acquire the leasehold interest in the property from ILX Resorts Incorporated. The developers will seek approvals for the project from the Clark County Department of Aviation Clark County Department of Aviation is a part of the Clark County, Nevada government. McCarran and the five general aviation facilities in the Clark County Airport System are owned by Clark County, Nevada and operated under the policy direction of the Board of County Commissioners, , which owns the property, and county planners. Canyon is also providing pre-development capital for the project. "There has been a remarkably short supply of neighborhood-serving retail created amidst Las Vegas' explosive growth in homebuilding and the continuing expansion of resorts on the Strip," said Bobby Turner Robert "Bobby" Turner (born May 6, 1949 in Midway, Alabama) is the Denver Broncos running backs coach. He joined Denver in 1995, he also worked for 20 years as a college assistant and has 34 combined years of coaching experience at the professional, collegiate and high school , Managing Partner of Canyon Capital Realty Advisors. Said Carol Colombo of Phoenix-based Axon axon: see nervous system; synapse. Capital, a development partner in East Village, "Canyon Capital has been more than a lender on this project; they've provided valuable advice along the way. Canyon's loan for the leasehold purchase and for pre-development financing allows our team to mobilize for construction and, ultimately, to realize the East Village vision." East Village is planned for 44 acres across from McCarran International Airport “LAS” redirects here. For other uses, see LAS (disambiguation). McCarran International Airport (IATA: LAS, ICAO: KLAS, FAA LID: LAS) is the principal commercial airport serving Las Vegas and surrounding Clark County, Nevada. and the campus of the University of Nevada-Las Vegas. The property is just one mile east of the famous Las Vegas Strip The Las Vegas Strip (also known as The Strip) is a 4 mi (6.7 km) section of Las Vegas Boulevard South, most of which has been designated an All-American Road. . With a unique mix of retail and office space, the multi-story urban lifestyle center at the northwest corner of Tropicana Boulevard and Paradise Road will offer Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. residents and office-workers the types of stores, services, food and entertainment that are hard to find on the tourist-oriented Strip and in surrounding areas. "East Village presents a tremendous opportunity to cater to Las Vegas residents and tourists, and Canyon is pleased to help finance this project," said Jonathan Roth, Principal of Canyon Capital Realty Advisors. Canyon Capital Realty Advisors and its affiliate Canyon Capital Advisors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control are registered investment advisors and money management firms based in Beverly Hills, Calif., with more than $9 billion of capital under management. Canyon's real estate activities focus on providing debt and equity capital to real estate owners, operators, developers, corporations and entrepreneurs, enabling them to participate in transactions that would have traditionally eluded them due to capital constraints. Canyon has built its reputation on creative underwriting and structuring, reliable commitments, overall professionalism and timely closings. Canyon's real estate funds include the Canyon Value Mortgage Fund and the Canyon-Johnson Urban Fund, a joint venture with Earvin "Magic" Johnson focused on the development of retail and residential properties in densely populated, ethnically diverse communities. East Village Partners unveiled more detailed plans for East Village this week at a launch party preceding the International Council of Shopping Centers' convention in Las Vegas. The developers hope to begin construction in 2006, with the premiere targeted for 2007. CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. has been awarded the leasing contract for the project. Canyon Capital Realty Advisors, 9665 Wilshire Boulevard, Suite 200 Beverly Hills, CA 90212 Phone: 310-247-2700 Fax: 310-247-8067 www.canyoncapital.com / www.cjuf.com |
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