Property Name: Cottages at Tungsten Buyer (LLC): N/A Seller (LLC): Henderson Apartments LLC and Famid Henderson LLC Property Description (Tenant, SF, etc.): The Cottages at Tungsten is an 8-unit, multifamily community located in Henderson, Nevada. The community is located in the heart of downtown Henderson, providing residents easy access to shopping, dining, entertainment, and the city’s…Read More→
Oakridge Apartments, LLC bought the 42 unit Oakridge Townhomes located at 325 Gayle Avenue in Henderson for $1,750,000 or $41,667/unit. Michael LaBar and Michael Shaffner of Avison Young represented the buyer. Universal Realty represented the seller, Oakridge Townhome, LLC.
Pacifica Companies LLC / Pacifica Solevita LLC recently purchased the 184 unit Dolce By The Lakes located at 2750 S. Durango in Las Vegas for $14,445,00 and the 230 unit Solevita located at 2120 Ramrod in Henderson for $18,055,000. Patrick Sauter and Art Carll of the NAI Vegas Sauter…Read More→
NAI Vegas’ Sauter Multifamily Group announced the sale of Merlayne Villas, a 32 Unit Apartment Building located at 409 & 417 E. Merlayne Drive, in Henderson. The property sold for $2,200,000 ($68,750 per unit) and was purchased by HKAS Ltd. The Seller was Vegas Venture Holdings, LLC. Devin Lee and Robin Willett with NAI Vegas represented…Read More→
NGKF Capital Markets, in conjunction with ARA, A Newmark Company (ARA Newmark), announces the sale of 15.52 acres at the northwest corner of Stephanie Street and Wigwam Parkway to The Calida Group, L.L.C. The notable multihousing builder purchased the land from KB Home for $9,312,000, or $600,000 per acre. NGKF Capital Markets and ARA Newmark…Read More→
The Haren Apartments located at 1901 E. Haren Avenue, Henderson, NV 89011 sold on March 6, 2015 for $1,700,000.00. The seller 1901 Haren, LLC was represented in the transaction by Robin Willet of NAI Vegas’s Sauter Multifamily Group. Based on the sale price the approximate per unit sales price is $60,714.
A report distributed by Avison Young regarding the Las Vegas multi-family market indicates “Activity in the Las Vegas multi-family market was very positive in the fourth quarter of 2014. Vacancy went down almost 90 basis points from the previous quarter. This is good news for the local market considering there were no new projects delivered….Read More→
Marcus & Millichap’s Institutional Property Advisors (IPA), a division serving institutional and major private real estate investors, is being launched in Las Vegas. David Baird will head-up the local division. He previously served as senior vice president and national director of Sperry Van Ness’s multifamily division. In 2013, IPA closed over $3.3 billion in multifamily…Read More→
Southern Nevada’s apartment vacancy rate fell from 9.7% in the first quarter to 8.9% in the second quarter, reports UNLV’s Center of Business and Economic Research (CBER). The decrease in this vacancy rate was driven by occupancies in the downtown and northern areas. The average rental rate increased by $10 dollars since last quarter and…Read More→
Hamilton Zanze & Company bought the 164-unit Elysian Parc at 1651 American Pacific Drive in Henderson for $26 million, or $158,537-per-unit, from The Calida Group. Newmark Grubb Knight Frank’s Doug Schuster, Curt Allsop, Vittal Ram, and Kara Walker represented the seller.