Slated for completion before the end of 2008, the expansion isbeing funded with a $57.75-million construction loan from Key BankNational Association that was sourced by the Los Angeles office ofHFF. The two-year loan has a loan-to-cost ratio of approximately75%.

The loan was arranged by HFF executive managing director ScottMcMullin and associate director John Crump. Crump tells GlobeSt.comthat the loan was closed without the anchor tenant in place but theterms were contingent upon a signed lease, which is now in place."They received a lower (interest) rate (because of the Hard Rock),"Crump says.

The three-quarter-acre development site is located at 3771 LasVegas Blvd., adjacent to the existing Showcase Mall in front of theMGM Grand Hotel & Casino, and directly across from MGM Mirage's$5.4-billion CityCenter development. The Showcase Mall expansionwill include three stories of retail space with a glass curtainwall fronting the Strip.