Company Linked to Dell Pays $93M for Pair of M-F Properties
By Alex Girda, Associate Editor
WTI Inc., an entity with ties to computer manufacturer Dell, has paid $93 million for a pair of Las Vegas multi-family properties, VegasINC.com reports. The Renaissance Villas complex on West Tropicana Ave. commanded $75 million, while the Esplanade near South Durango Drive fetched $18 million. The seller’s identity was not immediately available.
Completed in 1989, the 840-unit Renaissance Villas was renovated in 2006. Community amenities include high-speed internet access, jogging trails, picnic area with barbecue, swimming pools, hot tub, fitness center, and tennis and volleyball courts. In-unit amenities include all-electric kitchens, walk-in closets, appliances, private balconies and patios.
At the Esplanade, located seven miles away, WTI bought 163 rental units. The complex’s other 219 units are condominiums that were not included in the transaction, VegasINC.com explained.
VegasINC.com speculates that WTI is a stand-in for Dell, which bought WTI’s sister company, San Jose-based Wyse Technology, earlier this year for a rumored $1 billion. State records indicate that WTI previously operated under the name Wyse Technology Investments Inc. and shares a San Jose address with Wyse Technology, the online publication noted.
Image courtesy of renaissancevillasapts.comTags: Multifamily