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Molasky Borrows $104M Against Newest Building

LAS VEGAS-The permanent financing from JP Morgan takes out the $96-million construction loan, according to Newmark Realty Capital, which arranged both.

By Brian K. Miller | Updated on December 11, 2007

(Read more on the debt and equity markets.)

LAS VEGAS-Molasky Group has paid off the $96-million construction loan for its new 280,000-sf “green” office building here with 10-year permanent financing package totaling $104 million. The loan structure included three notes and a mezzanine overlay, according to Newmark Realty Capital Inc., which sourced the financing.

Visible from Interstate 15 and US Highway 95, Molasky Corporate Center is a 17-story class A office building located adjacent to the recently completed IRS Regional headquarters in Downtown Las Vegas. The US Green Building Council certified the $107-million development as LEED Gold, its second-highest level of recognition.

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