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Las Vegas – The Grove was 90 percent occupied at the time of sale.
Las Vegas – The Grove, a 54,490-square-foot shopping center in North Las Vegas, has received an $11.6-million loan. The funds were used to finance the property’s acquisition. The Grove was built in 2006. It was 90 percent occupied at the time of sale. The borrower was High Valley VI LLC, a 1031 exchange buyer. The long-term, fixed-rate loan was arranged by CBRE’s Bruce Francis, Dana Summers and Robert Ybarra. It was funded through Goldman Sachs Mortgage Company.
— Nellie Day