HENDERSON, NV—ACRES Capital Corp., a commercial real estate middle-market lender, and George Smith Partners, a national provider of capital market services to the commercial real estate industry, have partnered to provide a $37.5 million loan to fund the construction of The Watermark a mixed-use multifamily property featuring luxury rental units, retail and office space located in downtown Henderson, NV a suburb of Las Vegas.
The complex is anticipated to help provide housing for Henderson's expansion. It was Nevada's fastest growing city in 2017 and 2018.
ACRES Chief Executive Officer and President Mark Fogel said The Watermark is coming at an ideal time to accommodate Henderson's significant demand for rental units.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
