Las Vegas, NV

This loan is a first deed of trust on two condominium units located within The Signature at MGM Grand in Las Vegas, NV. Internationally recognized for its world-class entertainment, dining, shopping, and hospitality, Las Vegas is one of the nation's premier tourism destinations. The city offers a diverse real estate market, including luxury residential properties, resort-style condominiums, and investment-oriented accommodations. The subject properties are located within The Signature at MGM Grand, a luxury condominium hotel featuring three residential towers with convenient access to the Las Vegas Strip and MGM Grand's extensive entertainment, dining, and resort amenities. The development offers a gated entrance, private lobby check-in, heated outdoor pools, cabanas, fitness facilities, valet parking, and concierge services. The properties consist of a corner penthouse condominium and an adjoining studio unit situated on the 34th floor. Together, the units contain approximately 1,394 square feet of living area, featuring two bedrooms and three bathrooms. Both units offer expansive views of the Las Vegas skyline and Strip from an extended balcony. Interior amenities include kitchenettes with stainless steel appliances, granite countertops, built-in entertainment centers, and luxury bathrooms featuring Jacuzzi tubs, dual vanities, and separate showers. Each unit accommodates up to four guests and can be rented individually or together. The Borrowers purchased the properties in 2022 for $788,000 and have operated them as short-term rental investments. From August 2025 through the reporting date, the units generated approximately $119,745 in rental income. The purpose of the loan is to refinance an existing SO-CAL Capital loan approaching maturity. The Borrowers will contribute additional funds at closing to complete the refinance. On or before maturity, the Borrowers intend to either sell the properties and use the proceeds to repay the loan or refinance into new financing.