Las Vegas
On the Market: 5 Interesting Listings for the Week of 4/30
This week’s listings include a newly renovated age-restricted community in Vegas and a turnkey asset in central Richmond, Va.
Berkadia Completes $31M Vegas Sale
Sundance Bay acquired Desert Ridge Apartments, which includes 304 units and a dog park, a racquetball court and a playground.
Henley, Tower 16 Launch Vegas Brand
The partnership will acquire multiple multifamily assets in the coming months, targeting value-add opportunities and applying renovations under the Altura brand. The first property is slated to open this summer under the new name.
Partnership Debuts Affordable Housing Revamp in Vegas
Community Development Partners and BLVD Capital have opened Baltimore Gardens and Cleveland Gardens, two communities totaling 201 units. All apartments are restricted to low-income households.
Vegas Apartments Change Hands in $60M Deal
Hamilton Zanze and Cantor Fitzgerald acquired the 426-unit Arrow Canyon, which includes a bocce ball court, a putting green and covered parking.
PCCP Provides $24M for NV Community
The Calida Group plans to renovate Hampton Garden in Summerlin-Spring Valley, a Las Vegas submarket. The 18-year-old property includes 180 units in 16 buildings.
Multifamily Acquisitions in Emerging Markets
Continental Realty Advisors’ David Snyder discussed investment opportunities in markets such as Las Vegas, ways to maximize returns and why in-depth research is essential to expertly deploying capital.
Sunroad Enterprises Nabs 320-Unit Vegas Asset
Prime Group sold Avery Park in a deal facilitated by HFF. The new owner is set to renovate the property’s common areas and unit interiors over the next two years.
Chicago Buyers Expand into Las Vegas Market
Oak Residential Partners and POB Capital have acquired 252-unit Avenue Apartments in Henderson, Nev. The deal marks both buyers’ entry into the market.
Citymark, InterCapital Go Shopping in Vegas
The two companies purchased Vintage Pointe, a 368-unit apartment community in Vegas’ Michael Way neighborhood, for $49.2 million.