(Read more on the debt and equitymarkets.)
LAS VEGAS-Falcon Group has refinanced and increased itspre-development bridge loan for Pinnacle Condominium Resort. The$850-million, 1,100-unit near-Strip development is planned for 12acres at the intersection of West Tropicana Avenue and CameronStreet, across from the Orleans hotel casino. The new $50-millionfirst mortgage loan takes out a previous $40-million loan by thesame lender, New York City-based Berkshire Capital.
The developer and landowner is the Falcon Group. Falcon Groupincludes the Falconi Group, Praxis Resources Inc. and ElysiumEnterprises. Falconi and Praxis are real estate developmentcompanies. Elysium Enterprises is led by Mike Bellon, a locallybased entrepreneur and real estate developer.
Continue Reading for Free
Register and gain access to:
- 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
*May exclude premium content
Already have an account?
Sign In Now
© 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.
