Low Down Payment Mortgages Exclusive to The Ogden Downtown Las Vegas

LAS VEGAS, Feb. 19, 2015 /PRNewswire/ -- DK Las Vegas LLC, the owner of The Ogden, the 21-story high-rise condominium building located in the heart of Downtown Las Vegas, today announced that qualified homebuyers will be able to purchase a home at The Ogden with only 10% down payment through two new loan programs. These programs — through new partnerships with a national mortgage lender and Chicago-based The Federal Savings Bank — are a first-of- its-kind product since the real estate downturn and reignite the American dream of homeownership for those seeking to own a home in the heart of a growing urban neighborhood full of inspiring individuals and businesses.

"We're thrilled to play an integral part in keeping the American dream of homeownership alive for Las Vegans," said Uri Vaknin, partner at DK Las Vegas, LLC. "People keep hearing the market is back and it's time to buy, but the reality for most is that they need better financing options. Now with these mortgage offerings, exclusively at The Ogden in Downtown Las Vegas, the dream of homeownership can become a reality. The big banks are taking notice of what many others already know: Downtown Las Vegas is the place to call home."

DK Las Vegas spent more than $1.5 million on capital improvements and upgrades at The Ogden, and returned the high-rise condominium building to market in late 2014 — one year after KRE Capital, in partnership with Dune Real Estate Partners and Las Vegas-based Northcap — collectively called DK Las Vegas, purchased The Ogden, along with Juhl, Loft 5, One LV and Spanish Palms. Since then, 20 homes have sold, totaling $6.5 million in sales. Condominium residences range from one bedroom to three bedrooms plus a den, 1 1⁄2 to 2 1⁄2 baths, and 815 to more than 2,000 square feet. Prices range from $200,000 to mid-$600,000s. Amenities at the 275-residence building include a sky deck, rooftop pool, Nest Smart Thermostats, open floor plans and electric car services.

"Our decision to offer this program to The Ogden is based on the strong demand for living and owning in Downtown Las Vegas, as well as the financial strength of DK Las Vegas, the value of the property and the continued renaissance of the neighborhood," said Camilo Rodriguez, Senior Vice President, The Federal Savings Bank. "As Vegas Magazine noted recently, Downtown Las Vegas has been transformed into a real neighborhood, offering all of the conveniences and cultural attractions one could ever want, and The Ogden is playing a significant role in this transformation."

To learn more about mortgage lending opportunities at The Ogden that are available for first-time homebuyers and qualifying returning homebuyers — please contact (702) 478-4700.

SOURCE DK Las Vegas LLC