Business Services Industry
Developer lands construction loan for Las Vegas condo complex.
Knight Ridder/Tribune Business News, September, 2004
By Hubble Smith, Las Vegas Review-Journal Knight Ridder/Tribune Business News
Sep. 10--Gemstone Development has secured a $105 million construction loan for its Manhattan condominium complex at Las Vegas Boulevard South and Serene Avenue, an executive said Thursday.
Tharaldson Financial Group of Henderson is providing the financing for the first two phases of Manhattan, which advertised starting prices of $149,000 when the project was first announced.
"Construction financing is the lifeblood of real estate development," Gemstone managing partner Alex Edelstein said. "It's the key element that separates the few projects that get built from the many projects that don't."
He noted that Gemstone closed escrow on the land nine...
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