In the Las Vegas Valley’s biggest multi-family deal so far this year, an affiliate of TM Equities has acquired the Adobe Ranch property in Henderson from Capri Capital Partners for approximately $30 million, VegasInc magazine reported.
Salt Lake City-based TM Equities focuses on residential properties containing at least 100 units. Capri Capital Partners, which is headquartered in Chicago, specializes in strategic acquisitions in growing markets.
Located at 1350 Kelso Dunes Avenue in Henderson, Adobe Ranch is a 234-unit complex featuring one- and two-bedroom floorplans. The 14-acre community is located near the Galleria Mall, the Sunset Station Casino and Theater and a variety of dining venues.
Completed in 2003, Adobe Ranch was acquired four years later by Capri Capital Partners, according to VegasINC. Amenities include a fitness facility, a business center and swimming pool. Adobe Ranch also offers easy access to the I-215 and I-95.