Las Vegas
On the Market: 4 Interesting Listings for the Week of 1/21
This week’s listings include a value-add opportunity in a highly populated area of Connecticut, an affordable asset in central Las Vegas, and more.
TruAmerica Expands Las Vegas Portfolio With $62M Buy
The previous owner of Tesoro Ranch applied extensive renovations to the amenity package and made interior redesigns. The property previously traded for $49.8 million, in 2015.
Dornin Investment Group Repositions Las Vegas Asset
The company obtained the asset in 2017, following the 2013 foreclosure of a CMBS loan. In the 18 months under its management, the community received several exterior and interior renovations.
Prism Multifamily Buys Las Vegas Portfolio
The four Class A and Class B communities add up to almost 500 units and commanded a price tag of nearly $47 million.
Tower 16 Acquires 4th Las Vegas Property for $30M
Along with its joint venture partner, Henley USA, the firm will invest $4 million to upgrade the community. Pinnacle will handle property management services.
Las Vegas Community Secures $55M Refi
The 376-unit rental property developed by Joseph Sorge was completed earlier this year. NorthMarq Capital arranged the loan on behalf of the owner.
Watt Cos., Schulman Properties Receive $41M Loan for Vegas Community
The developers join the large roster of companies delivering new homes in Olympia Cos.’ 2,750-acre, $200 million master-planned project in southwestern Las Vegas.
Demand Outstrips Supply in Las Vegas
The metro has one of the most affordable business climates in the U.S., attracting companies and residents alike, mainly from neighboring Southern California.
TruAmerica Multifamily Secures 2 Vegas Properties for $77M
The company added 504 units to its portfolio with the acquisition of Crossing at Green Valley and The Retreat.
JV Acquires Las Vegas Community for $50M
Tower 16 Capital Partners and Henley USA purchased a 540-unit multifamily project that Tower 16 will spend $7 million to upgrade.