Phoenix & Southwest + Southwest + Industrial | July 8, 2024
The Roxborough Group and Bendetti have closed on a $38.6 million refinancing for Valley View Business Park, a 195,603-square-foot industrial campus in Las Vegas.
Commercial Edge reports the deal also included the assumption of an existing $20 million loan with an interest rate below current trends. American Equity Investment Life Insurance Co. originated the five-year note in 2022.
Bendetti previously owned the five-building campus in partnership with RGA ReCap Inc. The joint venture purchased the asset from Morrison Street Capital in 2014 for $16.3 million.
The newly created partnership marks Roxborough’s second industrial investment in metro Las Vegas.
Valley View Business Park consists of five one-story industrial buildings located at 3859-3871 S. Valley View Blvd. The facility also features 47,874 square feet of retail spaces located in a freestanding building.
Completed in phases between 1979 and 1981, the properties have undergone significant renovations under Bendetti’s ownership.