The Shadow Hills at Lone Mountain apartments are located at 3501Shady Timber St. and were built in 2002. The new financing is a35-year, fully amortizing loan at a fixed interest rate of 5.2%,according to Christopher Funai, a vice president in the Las Vegasoffice of Newmark, who procured the loan.

The garden-style Shadow Hills property includes a largeclubhouse with a fully-equipped gym, an entertainment room and abusiness center. The complex also features a large, central poolwith spa, cabanas and barbecues. The Shadow Hills complex featuresunits from one to three bedrooms with one and two baths, in eightfloor plans, according to the web site for the apartments.

The Las Vegas apartment market continues to cope with asupply/demand imbalance brought on by the economic downturn, butthe national economic recovery should help lay the foundation foran improvement starting in 2011, according to a recent marketresearch report by Marcus & Millichap. The report says that,ass job growth resumes at the US level, the opening of new resortssuch as CityCenter, along with reduced hotel room rates, "willattract visitors and aid in stabilizing employment in the metro'slarge leisure and hospitality sector, a major driver of localapartment demand."

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