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Wells Fargo provides $58 million for retail center.

SAN FRANCISCO-BASED WELLS FARGO'S COMmercial Mortgage Group provided $58 million in a fixed-rate construction takeout for Boca Park Fashion Village LLC, owner of The Shops at Boca Park, a retail center in Las Vegas. Commercial Mortgage Finance, Salt Lake City, another division of the Commercial Mortgage Group, provided the original construction loan.

The Shops at Boca Park is a 277,000-square-foot retail center in the affluent Summerlin area of Las Vegas. The property was completed and fully leased by the end of 2004. Current anchors include The Great Indoors and Linens N' Things, and the property includes restaurants The Cheesecake Factory and Kona Grill. The Shops represents phase two of an ongoing three-phase project called Boca Park Fashion Village. The third phase is expected to bring in even more large anchor tenants, according to Wells Fargo.

Boca Park Fashion Village LLC is a special entity of the Triple Five Nevada Development Corporation, one of the largest private owners of retail properties in the world, according to Wells Fargo.
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Title Annotation:Commercial; Boca Park Fashion Village LLC
Publication:Mortgage Banking
Article Type:Brief Article
Geographic Code:1USA
Date:Mar 1, 2005
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