SG arranges $208m loan.Sonnenblick Goldman, on behalf of Hallier Properties, has arranged the $208 million construction loan for the Panorama North luxury high-rise condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. in 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. . The financing was provided by iStar Financial. Panorama North is the third tower being developed at the northwest intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. of Dean Martin Drive and Harmon Avenue and is already 85 percent pre-sold. The 43-story building will contain 381 residential units that average 1,276 sf, each with a view of Las Vegas Boulevard. Tenants will have access to a fully equipped gym and a his-and-hers spa. "We paid careful attention to feedback from buyers in the previous two towers and potential customers to deliver the proper unit layouts, sizes, view orientations, and amenity a·men·i·ty n. pl. a·men·i·ties 1. The quality of being pleasant or attractive; agreeableness. 2. Something that contributes to physical or material comfort. 3. package," commented Laurence Hallier, chairman of Hallier Properties. "The iStar loan provided a single source to fund Hallier Properties' senior and mezzanine capital Mezzanine capital (or mezzanine debt) is a broad financial term that refers to unsecured, high-yield, subordinated debt or preferred stock that represents a claim on a company's assets that is senior only to that of a company's shareholders. requirements, making it an efficient and cost effective solution for this well-conceived, well-located, and high-quality condominium building," said Richard Swartz, managing director and principal for Sonnenblick Goldman. |
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