LAS VEGAS-A new healthcare-related project here and asingle-tenant retail property have been financed in two recentlyclosed loans, with the single-tenant financing managing to close in30 days from start to finish despite some unusual twists. Thehealthcare project loan included $6 million in construction andpermanent financing via Newmark Realty Capital Inc. for ato-be-built 38-room, 28,870-square-foot freestanding transitionalrehabilitation facility here. The other was a $5.5 millionrefinancing provided by Los Angeles-based Dominion Mortgage Corp.and Dominion America Realty Advisors on a single-tenant retailbuilding and an associated long-term leasehold interest inReno.

The rehabilitation facility is leased to a single-tenantoperator on a long-term basis. Upon completion, it will be one ofseveral operated by the tenant in the region. The facilities aredesigned for patients recovering from acute health problems such asmild strokes and hip replacements.

The developer was represented by Demetri Koston, and ChrisFunai, both vice presidents at Newmark, who arranged the financingthrough a bank. In addition to securing the construction loan, theNewmark VPs arranged a mini-permanent loan to take out theconstruction loan upon project completion. Other specific terms ofthe loan were not disclosed.