Rob Sabo

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July 2, 2012
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Refinancing package helps RED finish Legends project

RED Development's successful refinancing of its debt on the Legends at Sparks Marina frees funds earmarked toward completion the project and also allows the company to resume its operation of the center, RED President Steve Maun says.The immediate priority, he says, is filling existing space that remains vacant.Phoenix-based RED Development said in early June it had successfully restructured its $130 million debt obligation on the 800,000-square-foot development at I-80 and Sparks Boulevard. The property had been operated in receivership since March by commercial real estate investment specialists Miller Frishman of Denver.RED's refinancing package included two components, Maun says. The first …

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Northern Nevada Business Weekly Updated Jul 2, 2012 12:00AM Published Jul 2, 2012 12:00AM Copyright 2012 Northern Nevada Business Weekly. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.