PEBB Enterprises, a South Florida-based real estate private equity firm, closed on the $36.15 million refinancing of Cheyenne Commons in Las Vegas.
Located at 3001 N. Rainbow Road, Cheyenne Commons is a 352,425-square-foot shopping center on 34.73 acres. Walmart occupies 114,513 square feet in the center. Other major tenants include Floor & Décor, Goodwill and Ross Dress for Less.
The company has owned the Walmart-anchored shopping center since 2019. And City National Bank provided the new loan. Maxx Carney of JLL arranged the refinancing on behalf of PEBB.
Cheyenne Commons was originally constructed in 1993 and extensively renovated in 2018. The center is 94.2% occupied. PEBB has successfully boosted occupancy from 80% at the time of its $34.35 million acquisition of the center.