Waterton Sells Las Vegas-Area Community
The property last traded in 2019 for $62 million.
Chicago-based Waterton has sold Fairways on Green Valley, a 320-unit multifamily community located in Henderson, Nev., a submarket of Las Vegas. Hamilton Zanze sponsored the acquisition, which totaled $75 million, according to Yardi Matrix. CBRE brokered the transaction.
A $47.1 million Freddie Mac loan was also used to finance the purchase, Yardi Matrix shows. Mission Rock Residential, an affiliate of Hamilton Zanze, will manage the community.
“We have a lot of conviction in the Henderson market and are excited about the potential in Fairways on Green Valley,” David Nelson, president and chief investment officer at Hamilton Zanze told Multi-Housing News. “When you combine asset upside and the expertise of our property management firm, Mission Rock, this property is a well-positioned to deliver healthy, consistent and predictable returns.”
Fairways on Green Valley came online in 1990, and spans 15 acres. It includes one- and two-bedroom apartments with stainless steel appliances, in-unit laundry, air conditioning and fireplaces. Waterton purchased the asset in 2019 for $61.5 million with a $43.8 million CMBS loan from Manufacturers and Traders Trust Co. That financing is set to mature in July, according to Yardi Matrix.
Shared amenities at the low-rise community include a fitness center, a game room, a clubhouse, a swimming pool, a spa and a golf simulator. Other amenities include gated entry and covered parking. The community is 92 percent occupied, Yardi Matrix shows.
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Built at 1851 N. Green Valley Parkway in Henderson, Fairways on Green Valley is located approximately 13 miles from the Las Vegas Strip. The property was constructed across from The Legacy Golf Club, with direct access to Interstate 215. Also close by are Ace Primary Care, a Whole Foods Market and the Green Valley Corporate Center.
This is Hamilton Zanze’s first sponsored transaction of 2026. Last year, the company completed seven acquisitions including Legends 267, a 267-unit community in Kansas City, Kan.
CBRE Las Vegas Multifamily Investment Group’s team of First Vice President Adam Schmitt, Executive Vice President Spence Ballif and Associate Justin Neubeck facilitated the transaction.
Deliveries slow down in Las Vegas
At the end of 2025, the Las Vegas market had an occupancy rate of 93.8 percent, reflecting strong demand after several years of elevated deliveries, the latest Yardi Matrix report on the area shows. As of October, the metro had 6,984 units under construction, showing a decline from a recent peak in delivery activity.
In October, Waterton work on a a 368-unit luxury community, its first ground-up development with The NRP Group. The project is expected form completion in 2028.
In December, CEDARst Cos. broke ground on The Presley, an $82 million, 236-unit community taking shape in the Las Vegas Medical District.
