Acquired non-performing loan secured by a 122,472 SF, 100% vacant industrial/office property located in the McCarran International Airport submarket of Las Vegas, Nevada from the CMBS special servicer. PNL completed the foreclosure within one month of acquisition, then completed cosmetic updates, addressed deferred maintenance, and executed a long-term lease to a autonomous vehicle technology company to occupy the entire property, enabling the sale of the Property to a publicly traded industrial REIT, 14 months after acquisition.