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Southwest Value Partners Sells 177,000-SF Office Bldg. for $33.3M

Dekel Capital Arranges Financing for Moonwater Capital's Acquistion of Montecito Point in Las Vegas
March 7, 2018
Las Vegas-based Moonwater Capital Management acquired the 177,007-square-foot Montecito Point office building in Las Vegas from Southwest Value Partners Enterprises for $33.25 million, or approximately $188 per square foot.

The six-story, Class A office building at 6605 Grand Montecito Pky. is 91 percent leased to Asurion and Alverson Taylor Mortenson Attorneys. Montecito Point was developed by Lauth Property Group in 2009 and is registered with the U.S. Green Building Council.

Moonwater Capital secured a $41 million capital package to acquire the office building, according to Dekel Capital, which arranged the financing.

Cathy Jones, Jessica Cegavske, Roy Fritz and Jennifer Lehr of Sun Commercial Real Estate represented the seller, which bought the office building in March 2011 for $5.7 million, according to CoStar’s data.

Moonwater Capital retained CBRE to handle leasing at Montecito Point.

Please refer to CoStar COMPS #4135417 for more information on this transaction.
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