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Cornerstone Commercial Mortgage arranges the refinance of a $22,250,000 land development loan for
195 residential condos at Lake Las Vegas 

Las Vegas, NV.  December 21, 2006.  Cornerstone Commercial Mortgage arranged a $22,250,000 loan to refinance and consolidate two separate loans for CW Capital Fund One, LLC.  The project involves 195 proposed residential condominium units at Lake Las Vegas just outside Las Vegas, NV.  The borrower needed to restructure the original land development loan for a longer period of time due to a slow down in the market.  The two original lenders did not want to extend their loans; therefore the borrower needed a new lender to take out the original lenders.  The project involves a national home builder who has optioned to purchase the finished lots once completed which is expected to happen in the next 2 years.
 
Cornerstone Commercial Mortgage acts as mortgage consultants specializing in arranging commercial real estate financing for clients throughout Nevada and California.  Cornerstone Commercial Mortgage manages every detail of the loan process from start to finish and assists clients in all aspect of financing from consulting on the feasibility of a real estate development project to obtaining the right construction or permanent loan. 

Cornerstone Commercial Mortgage’s Mission is to provide our clients the best loan at the most competitive terms in the shortest time possible while keeping their best interest in mind.  For more information see our web site at www.cmlv.net.
 
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