LAS VEGAS-The ownership of the 248-unit Shadow Hills at Lone Mountain apartments has refinanced the complex with a new $16.4 million FHA-sponsored loan that refinances a mini-perm loan and includes a provision that is unusual in today’s financing environment. The new loan allowed the borrower to pull cash out of the project, according to Newmark Realty Capital Inc., which arranged the new permanent financing.

The Shadow Hills at Lone Mountain apartments are located at 3501 Shady Timber St. and were built in 2002. The new financing is a 35-year, fully amortizing loan at a fixed interest rate of 5.2%, according to Christopher Funai, a vice president in the Las Vegas office of Newmark, who procured the loan.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.