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LAS VEGAS-American Nevada Holdings has paid off its construction loan for the second phase of The District at Green Valley Ranch. The $45.2-million fixed-rate loan was funded by Goldman Sachs Commercial Mortgage Capital LP.
The District at Green Valley Ranch is the mixed-use development adjacent to the Green Valley Ranch Station Resort, Casino and Spa. The 171,485-sf second phase is located on the east side of Green Valley Parkway at I-215 directly across the street from the first phase. It consists of 119,781 sf of retail and pad space and 51,704 sf of office-over-retail space.
The first phase of The District at Green Valley Ranch opened in April 2004 and includes 150,034 sf of retail, 21,748 sf of second-floor office space, 30,925 sf of restaurants, 88 loft-style condominiums and one 65,000-sf, three-story office building.
Phase II is anchored by Whole Foods Market and West Elm. Other notable tenants include Cheesecake Factory, Coach and Charles Schwab.
The phase-two refinancing was arranged by Bruce Francis, a senior director of CBRE Melody in Las Vegas. Francis declined to disclose additional loan details, citing client request. A representative of Goldman Sachs Commercial Mortgage Capital also declined to provide additional loan details.
American Nevada Holdings is a division of Greenspun Corp., a privately held company that manages the assets of the Greenspun family. Greenspun Corp. is one of the largest taxpayers in Clark County, NV. Its founder, the late Hank Greenspun, was the longtime publisher of the Las Vegas Sun.
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