Maryland Park Place

Location: Las Vegas, NV
Type: Retail
Price: $8,700,000

SMC’s $8,700,000 first mortgage loan refinanced the borrower’s existing loan. The property is a 95,247 SF grocery-anchored (Vons Market – Moody’s Baa3) retail center located at 1115 East Twain Avenue, in Las Vegas, NV. The property is comprised of four one-story buildings constructed between 1978 and 2001. Loan proceeds will be used to repay a securitized loan with an original balance of $9,600,000 and current balance of $ 8,133,703. Additional, proceeds will be used to fund TI/LC reserves and to pay closing costs.