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$208M Construction Loan for Panorama North

LAS VEGAS-The luxury high-rise condominium development by Hallier Properties is one of four for-sale residential developments here that have gained financing or begun closing sales in recent weeks.

By Brian K. Miller | Updated on June 21, 2006

(To read more on the multifamily market and the debt and equity markets, click here.)

LAS VEGAS-Hallier Properties has secured $208 million in construction financing for its Panorama North luxury high-rise condominium project at Dean Martin Drive and Harmon Avenue. The financing was provided by iStar Financial and sourced by Sonnenblick Goldman.

Already 85% pre-sold, Panorama North is the third tower being developed by Hallier at the Dean Martin and Harmon intersection. The 43-story building will contain 381 residential units averaging 1,276 sf. Hallier Properties chairman Laurence Hallier says the high pre-sale percentage is due to the company paying “careful attention to feedback from buyers in the previous two towers and potential customers to deliver the proper unit layouts, sizes, view orientations, and amenity package.”

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