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Howard Hughes Corp. Closes on $300M Refi For Las Vegas-Area Mixed-Use Property
The Howard Hughes Corp. has refinanced Downtown Summerlin, a 400-acre mixed-use project in Las Vegas. The $300 million note was issued by U.S. Bank.
Downtown Summerlin comprises 933,000 square feet of office space and nearly 1.4 million square feet of retail space, along with residential, hospitality and entertainment spaces. Commercial Search reports Howard Hughes delivered the first phase back in 2014, but the developer has been continuously adding to the development since then.
Properties within Downtown Summerlin include:
- ONE Summerlin, a 200,000-square-foot office property
- Two Summerlin, a 150,000-square-foot workplace building
- 1700 Pavilion, a 267,413-square-foot office facility
- Tanger and Tanger Echo, a two-phase, 562-unit residential community
- Constellation, a 124-unit residential property
- Red Rock Casino, Resort & Spa, a 17-story hospitality building
The 400-acre mixed-use property is at the intersection of Clark County Road 215 and West Charleston Boulevard, serving as the central business district for Summerlin, a 22,500-acre community. Downtown Vegas is roughly 13 miles east.
- ◦Financing
