Las Vegas — Calmwater Capital has provided a $15.2 loan for the development of a new shopping center in Las Vegas, located adjacent to the Palms Casino Resort.
Calmwater arranged the two-year, senior loan on behalf of the borrower, an entity controlled by CAI Investments. The developer plans to construct five pad sites for the center, totaling 27,000 square feet. Signed tenants at the center include Walgreens, Wahoo’s Fish Tacos, Denny’s, Del Taco and Dunkin’ Donuts. The project is estimated for completion over the next 12 to 18 months.