Dallas-based HALL Structured Finance (HSF) announced today that the company has originated a new $85 million first lien construction loan in connection with the development of Otonomus Las Vegas, a residential and short-term rental concept being developed by Las Vegas-based Growth Holdings. The project is slated to open in Q4 2024. “Las Vegas is a highly attractive market where we expect economic and population growth to continue to outperform the rest of the country,” said Brad Ferguson, Vice President of HSF and the loan’s originator. “We continue to aggressively seek out new opportunities for high quality projects, like the Otonomus Las Vegas, in other prime locations across the U.S.” The Class A+, 303-unit complex will be fully furnished offering modern, high-end finishes such as stainless-steel appliances, granite and quartz countertops, tile backsplashes and LED lighting. The four- and five-story complex will feature open floor plans, 10-foot ceilings, walk-in closets and private balconies. Additional amenities will include two resort-style pools with cabanas, a stateof-the-art fitness center, a large clubhouse, meeting space, lounge areas, and three courtyards with picnic and barbeque areas. The ground floor of the complex will feature approximately 38,000 square feet of retail offerings. “Otonomus is an intuitive hospitality experience that seamlessly integrates and upgrades the features of hotel and home-sharing. Think of the amenities from your favorite hotel, the convenience of your home, and the comfort of someone who knows your personality: that’s Otonomus,” said Philippe Ziade, Founder of Growth Holdings. “We are excited to bring the first short term rental property of this type to Las Vegas in such an ideal location, near the Las Vegas Strip, Allegiant Stadium and T-Mobile Arena.” CORE Advisory Partners, a Las Vegas-based real estate advisory firm, sourced the financing for the project. “We are proud to have arranged the financing for the project and are excited to see the 2 Otonomus concept launch in our market,” said Francis Abrao, founding Partner of CORE Advisory Partners. HSF expects to close over $600 million in new construction and bridge loans in 2022, largely targeting the hotel and multifamily sectors.
About HALL Structured Finance
HALL Structured Finance is an entrepreneurial, value-add, direct private lender that provides first mortgage debt capital for new construction, adaptive reuse and major asset repositioning for commercial real estate projects throughout the U.S. HALL Structured Finance has historically focused on providing multifamily and hotel construction loans land hotel bridge loans, but also provides financing in connection with industrial, office and retail projects. For more information, visit hallstructuredfinance.com.