CORE ADVISORY PARTNERS ARRANGES FINANCING FOR THE CONSTRUCTION OF OTONOMUS LAS VEGAS
LAS VEGAS – CORE Advisory Partners (“CORE”), a full-service capital markets brokerage firm, successfully arranged the financing for construction of Otonomus Las Vegas, a residential and short-term rental concept being developed by Las Vegas-based Growth Holdings. The construction financing totaled $117 million and included senior debt and preferred equity. “We are proud to have arranged the financing for the Project and are excited to see the Otonomus concept launch in our market,” said Francis Abrao, founding Partner of CORE Advisory Partners.
“Otonomus is an intuitive hospitality experience that seamlessly integrates and upgrades the features of hotel and home-sharing. Think of the amenities from your favorite hotel; the convenience of your home; and the comfort of someone that knows your personality. That’s Otonomus,” said Philippe Ziade, Founder of Growth Holdings, the developer. “We are excited to bring the first Short Term Rental property of this type to Las Vegas in such an ideal location, near the Las Vegas Strip, Allegiant Stadium and T-Mobile Arena.”
The Class A 300-plus unit project will be fully-furnished, offering modern high-end finishes such as stainless-steel appliances, quartz countertops, tile backsplash and LED lighting. The four and five story project will feature open floor plans, 10-foot ceilings, walk-in closets, and private balconies. Additional amenities will include two resort-style pools with cabanas, a state-of-the-art fitness center, a large clubhouse, meeting space, lounge areas, and three courtyards. The ground floor will feature approximately 38,000 square feet of retail offerings. The project is slated to open in Q4 2024.
