Las Vegas, NV
In September 2016, Archway Fund provided a $5.75MM short-term bridge loan secured by a 164-unit apartment complex located in the Northeast Sub-market of Las Vegas. The property is comprised of 11 buildings, which totals 168,300 SF on 8.55 acres of land. The subject was in Chapter 11 Bankruptcy, and in need of rescue financing after the lender accelerated the loan under a technical default. Archway Fund worked through the Bankruptcy issues and funded the loan in less than 20 days with no appraisal required.