Blue Diamond Crossing

Location: Las Vegas, NV
Type: Retail
Price: $ 59,000,000

Blue Diamond Crossing is a 97% occupied Target and Kohl’s-anchored power center, located in Las Vegas, Nevada. SMC’s $59,000,000 first mortgage loan refinanced the existing debt secured by the leasehold interest in the property. Blue Diamond Crossing is located less than 10 minutes away from McCarran International Airport and the Las Vegas Boulevard (The Strip). Tenants at the property include Ross, Petco, Office Depot, and In-N-Out Burger. The loan is sponsored by a local, institutional-quality investor who is the original developer. The property is subject to a 50-year ground lease which expires in 2055. SMC closed the loan within a period of 45 days from the executed application.