LivCor Sells 275-Unit Las Vegas-Area Asset
Blackstone's multifamily arm bought the asset for $52 million in 2019.
MG Properties has acquired Verona Apartments, a 275-unit community in Henderson, Nev. Cushman & Wakefield represented the seller and Key Bank Real Estate Capital provided financing. The property previously sold for $52 million in 2019, when LivCor, the current seller, purchased it from Security Properties, according to Yardi Matrix data.
Completed in 2007, the community encompasses one-, two- and three-bedroom apartments averaging 1,027 square feet. Interiors feature fireplaces, vaulted ceilings, washers and dryers in all units and private balconies in select units. Common-area amenities include a fitness center, clubhouse, swimming pool and spa.
Located at 6765 Tulip Falls Drive, the property is approximately 10 miles southeast of downtown Las Vegas and 9 miles from McCarran International Airport. Dining and retail options are available along West Sunset Road and in the surrounding area.
Managing Director Taylor Sims of Cushman & Wakefield represented the seller and Senior Vice President Brooks Benjamin and Global Vice President Corina Lam of Key Bank Real Estate Capital provided the financing.
MG Properties owns another five properties in the area. Recently, the company acquired a Nevada portfolio for $302.5 million, which comprises more than 1,000 units across eight communities in Reno, built between 1958 and 2021.