NV Capital Corporation has announced the closure of financing for the renovation of the historic Lucky Motel in Reno.
FBGM Investments LLC secured a $2,050,000 first-position loan and a $1,012,000 second-position loan to revitalize the 8,555-square-foot, 23-unit property, originally built in 1954.
The renovation will address structural issues and modernize the motel’s appearance. “We are excited to support FBGM Investments in restoring a landmark property that has served the Reno community for decades,” said John Blackmon, broker and owner of NV Capital Corp…