Southern Land Obtains Construction Loan for Las Vegas Apartments
Southern Land Company closed on a $50 million construction loan with BHI, the US branch of Bank Hapoalim, Southern Land Company to develop Capella, a 22-story, 272-unit apartment complex in the Symphony Park District of Las Vegas.
The subject property, located at the northwest corner of Promenade Place and Symphony Park Avenue, will also feature 17,626 square feet of retail space.
Capella’s unit mixture will consist of 55 studios, 126 one-bedroom units, 91 two-bedroom units, and 23 penthouse units. Project amenities include a resident lounge, concierge services, fitness center, yoga studio, wellness center, saunas, steam rooms, a co-working lounge, dog run, bike storage and tune-up shop, rooftop swimming pool, spa, pool lounge with outdoor bar, TVs, and grills.
Southern Land Company specializes in master-planned, single-family, multifamily, mixed-use, and hospitality developments.
This property is SLC’s third building in Symphony Park; their first, Auric, features 324 units and was completed in 2021. Their second, Bria, will consist of 275 units when completed (estimated for Q4 2025).
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout