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twitterSouth Strip condo tower receives financing
Thursday, July 14, 2005 | 11:09 a.m.
Loft 5, a 272-unit condominium tower planned at the corner of Las Vegas Boulevard and Pebble Road, has received $10 million in financing from the New York investment bank Lehman Brothers in addition to a $65 million construction loan from Corus Bank of Chicago.
The 10-acre project broke ground Wednesday and has so far signed sales contracts for about 70 percent of the units. The tower is owned by ADG Development, a New York limited liability company with real estate holdings worldwide.
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