Las Vegas is currently a hot real estate market. Land prices have doubled in the last year, which has caused developers to scramble to find affordable land.
Henderson, NV (PRWEB) May 27, 2005 -- Cornerstone Commercial Mortgage arranged a $10.5 million fixed-rate permanent loan for SOP 871, LLC. 871, a two-story office building, is part of the Siena Office Park, a high end professional and medical park located near St. Rose Dominican Hospital in Henderson.
The office park was developed around the time when the Dominican hospital broke ground on its Siena campus in 1998. Hospitals are a magnet for new office development because those locations are very attractive to both health-related businesses as well as other professional organizations, as attested by Siena Office Parks occupancy.
Siena Office Parks 871 is a Class A" office building built in 2003 consisting of 51,666 square feet of space and is 100% occupied. Tenants include Prudential Americana, Equity Title, SOMA Financial and the Siena Executive Suites.
Las Vegas is currently a hot real estate market. Land prices have doubled in the last year, which has caused developers to scramble to find affordable land. This is forcing them to look outside the metro areas to less expensive land once thought to be years away from development.
Cornerstone Commercial Mortgage is a full service mortgage broker in Southern Nevada and Southern California specializing in commercial real estate finance. Cornerstone assists clients in all aspect of financing from consulting on the feasibility of a real estate development project to obtaining the right construction or permanent loan.
A free Loan Information Kit is available on their web site, http://www.cmlv.net, which includes an overview of Cornerstone, How to" articles on commercial financing, as well as special forms, tips, and checklists. The Kit can be either mailed or transferred electronically.
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