Las Vegas Upscale Community Makes Debut

A joint venture subsidiary of TCI and Southern Properties Capital unveiled Abode at Red Rock, a 308-unit Class A apartment community in the Spring Valley area.
Abode at Red Rock

The team behind Abode at Red Rock has opened the 308-unit apartment community in the Spring Valley area of Las Vegas, Nev. Construction on the Class A development began in 2016, at a cost of $60 million, according to Centura Development Co.

The four-story property, developed by Abode Properties Services, a joint venture subsidiary of Transcontinental Realty Investors and Southern Properties Capital, is located at 9450 W Hacienda Ave. and offers a mix of one- and two-bedroom units with an average size of 933 square feet. In 2017, the project secured a construction loan for $42.5 million from Macquarie Bank, according to Yardi Matrix data.

Abode at Red Rock is located within walking distance of Tropicana Beltway Center, a shopping center offering a variety of retail and dining options. Amenities at the community include enclosed parking, private courtyards, rooftop lounge with fire pits, 24-hour fitness center, swimming pool, wading pool, fenced pet park and a clubhouse.

“The grand opening was a huge success,” said Daniel Moos, Adobe Properties Services president & CEO, in prepared remarks. “Abode Red Rock is a beautiful new development located within Las Vegas’s hottest residential submarket called the Southwest.”

Image via Centura Development Co.