We are pleased to announce that Archway Fund recently funded a $7,500,000 refinance loan on a 110,100 SF, 100-unit, Class B, multi-family complex in Las Vegas, NV. Archway Fund was able to close quick, bridging the gap to traditional financing at 75% LTV. The Subject is located about 2.75 miles east of the Las Vegas Strip in the University/Strip Apartment sub-market.
Why Archway Fund? The borrower chose Archway Fund due to their requirement for a lender with a non-bureaucratic approval process, quick closing, and non-recourse. The existing loan was a matured CMBS loan in special servicing for several years followed by a loan maturity.
Loan Details: $7,500,000 Loan, 75% LTV, 3-month yield maintenance, 8.5% IR
Please contact Marissa Wilbur for all new loan submittals. Marissa can be reached at 424.270.0168 or firstname.lastname@example.org