Western Alliance Bank Finances $33M First Phase of Las Vegas’s Historic Marble Manor Redevelopment
WAL•Western Alliance Bank arranged a $33 million loan to finance the first phase of the historic Marble Manor redevelopment in Las Vegas, covering initial restoration and preparation of the landmark. The funding marks the bank’s expansion into heritage property financing and underscores its commitment to urban redevelopment.
1. Financing Structure
Western Alliance Bank provided a $33 million construction loan specifically structured to fund initial restoration and site preparation of the Marble Manor project. Disbursements will align with restoration milestones and comply with the bank’s standard collateral and draw schedule requirements.
2. Marble Manor Redevelopment
The first phase focuses on stabilizing structural elements and restoring the landmark’s exterior facades in downtown Las Vegas. Subsequent phases will address interior upgrades and prepare the property for its intended mixed-use installation.
3. Strategic Expansion
This transaction highlights Western Alliance’s strategic push into heritage property financing, diversifying its commercial real estate portfolio. By supporting high-profile urban redevelopment, the bank aims to deepen client relationships and capture new yield opportunities in specialized real estate sectors.
