Beverly Hills, Calif. — Quantum Capital Partners, a real estate finance and advisory firm, has arranged two new loans to refinance two retail properties in Las Vegas for a private investor.
A $1.04 million loan will refinance the 12,000-sq.-ft. El Mercado, an L-shaped retail center in east Las Vegas, and a $1.19 million loan will refinance Wigwam, a 10,300-sq.-ft. strip center about four miles south of the Las Vegas Strip.
First Security Bank of Nevada provided the 10-year 5 + 5 loans — the first five years will carry a fixed interest rate of 5.25%, while the second five years reset the interest rate to the prevailing rate at the time.
El Mercado tenants include Latino Mercado, Laundry Land, Angels Beauty Salon and Tattoo Lounge. The property is 90% occupied but has a number of leases expiring soon. The Wigwam strip center tenants include Deli/Pizzeria, Labor Ready, Vinson Insurance, Cash Plus, Vegas Spa, Big V Mart and Jess Vanes Beauty Salon.