Calida Group Sells Las Vegas Apartments
The 286-unit luxury community opened earlier this year following nearly two years of construction.
Elysian at The Palms. Image courtesy of Cushman & Wakefield
Walton Street Capital has bought the 286-unit Elysian at The Palms in Las Vegas from The Calida Group. Cushman & Wakefield worked on behalf of the seller.
The Calida Group developed the luxury property, which broke ground in late 2019 and opened this past summer. The four-story community has studio, one- and two-bedroom floorplans ranging from 535 to 1,161 square feet, Yardi Matrix data shows. Units feature minimum 9-foot ceilings, smart home automation, tankless water heaters and modern LED lighting. Amenities include fitness centers, a parking structure, game rooms, a dog park and a wine tasting room.
Situated 1 mile west of the Strip at 3850 W. Nevso Drive, the property is 6 miles southwest of downtown Las Vegas. The community is just south of the West Flamingo Road retail corridor, less than 1 mile from Interstate 15.
The Cushman & Wakefield team included Taylor Sims, Carl Sims, Brady Cleary and Marc Renard.
Since 2007, The Calida Group has developed or acquired more than 16,000 units in Las Vegas. The firm is also active in other markets: In October, the company sold a 104-unit senior housing community north of San Diego for $35 million.
