Real estate merchant banking firm Dekel Capital has secured $35 million in debt and equity on behalf of real estate investment firm Moonwater Capital for its acquisition of the NV Energy Pearson Building, a 262,000-square-foot corporate headquarters building here in town.
NV Energy Pearson Building is a four-story, Class A office building located at 6226 W. Sahara Avenue four miles west of downtown Las Vegas in the city’s five-million-square-foot West Center office submarket. Characterized by its distinctive triangular shape, the property is the corporate headquarters of NV Energy, which has been the sole tenant of the building since it was constructed in 1983.
The public utility, wholly owned by Berkshire Hathaway Energy, provides a wide range of energy services throughout the State of Nevada.
In addition to raising the joint venture equity for the Las Vegas-based sponsor, Dekel also arranged $23.845 million in long-term, fixed rate, first mortgage debt from a West Coast-based regional bank.
Moonwater Capital acquired the property as a core-plus asset to add to their growing office real estate portfolio in the Las Vegas market, which totals approximately 700,000 square feet of commercial office space.
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