Walker & Dunlop secured the Fannie Mae acquisition financing.
Affiliates of Morningstar Properties acquired these Houston and Las Vegas properties.
The luxury townhome development is part of the Skye Canyon 1,000-acre master plan.
Otonomus is slated to open its doors at the end of 2024.
The property is the latest in Greystar’s Marlowe luxury apartment line.
Sales in these metropolitan areas surpassed $21 billion through September, outperforming the same period last year, according to Yardi Matrix data.
The pandemic slammed Las Vegas’ ascent, and after a swift economic surge in 2021, the performance of the local economy tempered to a steady recovery. This was mirrored by the multifamily market, with rent expansion moderating after a strong run, up 0.6 percent on a trailing three-month basis through June, to $1,525, trailing the 1.1 percent U.S. rate. The metro recorded a slowdown during the first half of 2022, with occupancy marking the largest decrease among major U.S. metros, down 1.4 percent in the 12 months ending in May, to 95.1 percent. READ THE FULL YARDI MATRIX REPORT Las Vegas…