(Save the date: RealShare Apartments East comes to the Hyatt Regency Miami, Florida on February 26th, 2013)
LAS VEGAS-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Cohen Financial has secured debt and equity financing for 427 condominium units in the CityCenter's Veer Towers, two luxury high rises located in Las Vegas. CityCenter is a joint venture between MGM Resorts International and a subsidiary of Dubai World, a Dubai-owned holding company, as GlobeSt.com previously reported.
Veer Towers was originally built as for-sale luxury condominiums and has been near full-occupancy as luxury rental apartments since the downturn in the marketplace. Going forward, Veer Towers units will be marketed as for-sale condominiums instead of rental.
Kevin O'Grady, senior managing director of Cohen Financial and head of the company's equity practice, and Eric McGlynn, director, both in the firm's Miami office, secured the structured financing from an affiliate of Ladder Capital Finance Holdings LLLP based in New York City, on behalf of Cohen Financial's client, Pordes Residential of Miami.
”We have a strong pipeline for 2013 and continue to look for strong sponsors with compelling, full capital stack opportunities,” says O'Grady in a prepared statement.
Veer Towers include studios, one-, two- and three-bedroom residences, and penthouses. Opened in 2010 as part of CityCenter, amenities at Veer Towers include a rooftop entertainment area that features an infinity pool, sun deck and hospitality patio. In addition, each tower has private vehicle entrances, valet service, secured elevators, exercise facilities, steam rooms and saunas.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
