REBusinessOnline

MG Properties Acquires 184-Unit Caviata at Kiley Ranch Apartments in Sparks, Nevada

SPARKS, NEV. — San Diego-based MG Properties Group has purchased Caviata at Kiley Ranch Apartments, a multifamily property located at 950 Henry Orr Parkway in Sparks, for an undisclosed price. The community features 184 units in a mix of two- and three-bedroom townhouse floor plans, averaging 1,600 square feet. Each unit features direct-access garages, open-concept floor plans with fully equipped kitchens, full-size washers and dryers, fireplaces and patios or balconies. Community …

PBC USA Receives $70M in Refinancing for Mixed-Use Development in Metro Las Vegas

SUMMERLIN, NEV. — New York City-based PBC USA has received a $70 million loan to refinance Tivoli Village, a 28-acre mixed-use development in Summerlin, a suburb of Las Vegas. Bank of Nevada provided the capital, which replaces financing from KeyBank and reduces the interest rate by 150 basis points. The refinancing is a result of near completion of a two-year turnaround campaign at the 700,000-square-foot retail and office property, bringing occupancy rates to above 80 percent. The …

Clearwater Living Starts Construction of Seniors Housing Community within Mixed-Use Development in Reno

RENO, NEV. — Clearwater Living, in partnership with Goldman Sachs, has started construction of Clearwater at Rancharrah, an assisted living and memory care community. The property will be located within the Rancharrah master-planned development in the heart of Reno. The surrounding Rancharrah community will offer a variety of retail, restaurants and recreation to residents. “We are excited about this location within the Rancharrah master-planned community as well as being adjacent to …

29th Street Capital Buys 188-Unit Multifamily Community in Las Vegas

LAS VEGAS — 29th Street Capital (29SC), a privately held real estate operator, has purchased Willows at Town Center Apartments, a multifamily community in Las Vegas. Long Beach, Calif.-based RK Properties sold the property for an undisclosed price. 29SC plans to invest more than $1.8 million in capital improvements at the 188-unit property. Renovations will include stainless steel appliances, quartz countertops, plank flooring and refaced cabinets, and all interior units will also be …

US Storage Centers Buys 1,269-Unit Self-Storage Facility in Las Vegas

LAS VEGAS — US Storage Centers has purchased a self-storage facility located at 8470 W. Charleston Blvd. in Las Vegas. Durango Mini Storage & Charleston Mini Storage sold the property for an undisclosed price. The 177,955-square-foot property features 1,269 self-storage units, video monitoring, gated access and RV/boat/auto storage. US Storage Centers, which was self-represented in the acquisition, currently owns and operates five self-storage facilities in the Las Vegas

City Sunstone Properties Sells 71,651 SF Blue Diamond Marketplace in Las Vegas

LAS VEGAS — City Sunstone Properties has completed the sale of Blue Diamond Marketplace, a neighborhood retail center located at 8030-8180 Blue Diamond Road in Las Vegas. A company advised by CenterSquare Investment Management acquired the property for an undisclosed price. At the time of sale, the six-building property was 100 percent occupied. Tenants at the 71,651-square-foot center include Auto Zone, 7-11, Taco Bell, Great Clips, Bank of America, Cricket Wireless, State Farm, …

Lucescu Realty Brokers $67.2M Sale of Shadow Mountain Marketplace in Las Vegas

LAS VEGAS — Lucescu Realty has negotiated the sale of Shadow Mountain Marketplace, a 359,103-square-foot community shopping center located in Las Vegas. Wynmark Co. sold the property to a private investor for $67.2 million. Developed in 2007 by the seller, Shadow Mountain Marketplace is anchored by Costco, Seafood City Marketplace, Walgreens, Best Buy and Ashley Furniture. Additional tenants include McDonald’s, Chili’s, Wells Fargo Bank, Panda Express, Subway, Sport Clips, Massage …

Cushman & Wakefield Brokers $12.9M Sale of Craig Promenade Shopping Center in North Las Vegas

NORTH LAS VEGAS, NEV — Cushman & Wakefield has directed the sale of Craig Promenade, a neighborhood shopping center located at 655-755 W. Craig Road in North Las Vegas. Tulsa, Okla.-based Liberty Crossing Apartments LLC, an entity formed by Precision Equity, purchased the asset from RREF-II KI Promenade, an entity formed by Rialto Capital Advisors. The acquisition price was $12.6 million. Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office, along with Lauren …

Colliers Arranges $2.4M Sale of 12,159 SF Retail Property in Las Vegas

LAS VEGAS — Colliers International has brokered the sale of a retail property, located at 2885 E. Charleston Blvd. in Las Vegas. E-Z Living LLC acquired the asset from El Mercado LLC for $2.4 million. The property features 12,159 square feet of retail space. Chris Clifford, Steve Neiger and Brett Rather of Colliers represented the seller in the

KeyBank Arranges $35.5M in Financing for South Beach Resort in Las Vegas

LAS VEGAS — KeyBank Real Estate Capital has secured a $35.5 million Fannie Mae first mortgage loan for the acquisition of South Beach Resort in Las Vegas. Situated on 9.8 acres, the property is comprised of 16 two-story residential buildings and features a total of 220 Class A apartment units. Paul Angle of Key’s Commercial Mortgage Group provided the non-recourse, fixed-rate loan with 10 years of interest-only payments for the undisclosed

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