Property Garners Miracle Loan for Vegas Mall

Property Garners Miracle Loan for Vegas Mall

Lenders don’t like Las Vegas much, but a retail loan amount for more than $1,000 per sq. ft. caught attention, says Claudia Steeb, a managing director with HFF.

Steeb assisted on the recent $580 million refinancing for the Miracle Mile Shops, a 501,522-sq.-ft. mall on the Las Vegas strip that includes tenants such as H&M, Urban Outfitters, Guess, Cabo Wabo and Quicksilver. The 10-year, fixed-rate loan was arranged for the ownership group of Tristar Cap

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TAGS: Lending Retail
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