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The Watermark

Henderson, NV

Multifamily - Construction

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The Watermark

MULTIFAMILY - CONSTRUCTION

ACRES Capital Corp. has originated a $37.5 million loan to fund the construction of The Watermark, a mixed-use multifamily property featuring luxury rental units, retail and office space located at 215 S. Water Street in Henderson, Nevada.

The loan is provided to sponsor Strada Development Group, a Nevada-based development firm focused on the Las Vegas community that develops mixed-use, hospitality, food and beverage, casino, and entertainment assets.

The Watermark will feature:
151 Residential Units
9,928 Square feet of retail space
14,725 Square feet of restaurant space
11,923 Square feet of office space

The class A, luxury Property will be located in Downtown Henderson’s Water Street District, which contains an eclectic mix of boutique shops, restaurants and nightlife—all within proximity to the Las Vegas Strip. The District’s Water Street Plaza, a versatile venue hosting a variety of events, is currently undergoing a revitalization that will include a 500-seat canopied amphitheater and 60,000 square feet of programmable deck area.

 

$37.5 Million

Loan Amount

Construction Loan

Loan Product

“It has been a pleasure working with the ACRES team to secure construction financing for this project and bringing our business plan for The Watermark to life,” he stated. “We look forward to leveraging our expertise in the Las Vegas market to ensure that the Property is a success and providing the citizens of Henderson with a new place to call home.”

- Jeffrey Cruden

Founding Partner of Strada Development Group

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