Market Rate Housing - 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.
Market Rate
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.
Market Rate
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.
Market Rate

  • 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.

    10 January 2018 18:42

  • Security Properties Buys $43M Vegas Asset

    Martinique Bay received renovations to 91 of its units before being sold off to Security Properties. The company plans to add value to the property by improving the rest of the units and also add exterior upgrades.

    07 December 2017 16:34

  • Berkadia Facilitates $15M Vegas Sale

    Desert Palms North Apartments was built in 1992 and features mixed unit types, ranging in size from 520 to 975 square feet. According to Yardi Matrix data, monthly rent averages at $648.

    19 October 2017 15:47

  • Las Vegas Asset Changes Hands

    Berkadia arranged the sale of Emerald Park Apartment Homes, a 300-unit community. The buyer paid $95 per square foot, equating to a 5.5 percent cap rate.

    19 October 2017 13:30

  • MG Properties Acquires $58M Vegas Community

    The company purchased the 432-unit Bristol at Sunset from Kennedy Wilson. CBRE arranged a $39.4 million acquisition loan through Fannie Mae on behalf of MG Properties Group.

    13 October 2017 14:25

  • Marcus & Millichap Duo Sells 2 in Las Vegas

    Las Palmas and The Rubix traded for $39.3 million. New plans include capital improvements and focus on military housing.

    05 October 2017 22:03

  • JLL Arranges 430-Unit Vegas Sale

    Monogram Realty Trust sold Veritas Apartments in a transaction completed by JLL Vice Presidents John Cunningham and Charles Steele. Farnam Realty acquired the asset.

    09 August 2017 12:57

  • Warmington Properties Secures $190M for Portfolio Refi

    Walker & Dunlop Inc. structured five Freddie Mac loans and one Fannie Mae loan, totaling $190.2 million, with 10-year terms and 30-year amortization schedules, to refinance nine California and Nevada communities held by Warmington Properties. Warmington began a value-added program across its portfolio in 2014, including the complete renovation of property amenities, building exteriors and unit interiors.

    10 May 2017 19:13

  • 29th Street Capital Buys Vegas Apartments

    The company, which has purchased 15 multifamily properties over the past 12 months, also revealed plans to implement a $1.9 million capital improvement program to refurbish unit interiors, enhance the asset’s exterior and upgrade the amenity package.

    04 May 2017 13:43

  • 2-Community Sale Fetches MGPG $68M

    The properties, located in Henderson and North Las Vegas, Nev., comprise 641 units. Both communities feature one-, two- and three-bedroom floor plans with high-end amenities.

    07 April 2017 20:57

  • C&W Negotiates Sin City Sale

    The company has arranged the sale of Portofino Villas, a 280-unit community.

    28 February 2017 09:38

  • HFF Secures $26M Loan for Nevada Apartment Community

    The company secured financing through Freddie Mac’s CME Program.

    03 February 2017 16:57

  • Transcontinental Unveils Plans for $59M Sin City Project

    The company has announced its newest development, The Abode Red Rock Apartments, which will total 308 units.

    16 January 2017 14:36

  • The Siegel Group Grabs Sin City Apartment Community

    The property that will be rebranded as Siegel Suite Boulder III marks the company;s third asset on Boulder Highway.

    04 January 2017 14:45

  • Berkadia Completes Sale of Two Las Vegas Communities

    The two multifamily properties totaling 620 units traded for a combined price of $22.8 million.

    18 November 2016 11:39