Pathfinder Acquires Second Batch of Las Vegas Condos in Six Months
- Mar 15, 2016
Las Vegas–Luxury condo community Park House had 39 remaining units up for sale until Pathfinder Partners chose the property as its latest expansion in the Las Vegas multifamily market. The San Diego-based investor paid $7.7 million for the units in an off-market transaction. Pathfinder will immediately put the units up for lease short-term, while a future individual condo sales program will come into play later on.
Located at 8925 West Flamingo Road, the community totals 83 upscale condo units. Occupying a 4-acre lot just east of I-215 at Durango and West Flamingo Road, the property offers great access to downtown Summerlin with easy access to the Las Vegas Strip and the Red Rock Casino & Resort. Pathfinder will be working with Stout Management Company, who is handling leasing and management of the condos.
Units at the three-story property include one-, two-, and three-bedroom floorplans ranging between 1,130 and 2,490 square feet. Community amenities include a resort-style central pool, cabanas, fitness center, sauna, barbecue area, as well as a common room with billiards and an underground parking facility.
Pathfinder’s prior Las Vegas acquisition was a similar deal. In September of last year, the investor purchased 64 condo units in Sky Las Vegas, another upscale residential property located on the north end of the strip.