Laguna Point Properties Buys Topaz, Viridian Apartment Communities in Las Vegas for $129.7M

LAS VEGAS — Laguna Point Properties has acquired two multifamily properties in Las Vegas from an overseas investor for $129.7 million in an off-market transaction.Totaling 708 units, Topaz and Viridian are part of a 1,945-unit, $566 million portfolio acquisition by Laguna Point Properties. Other recently closed acquisitions include five properties in Los Angeles and one in Jacksonville, Fla.Built in 1985 and 1981, respectively, Topaz and Viridian are located adjacent to one another on …

May 5, 2022Acquisitions, Multifamily, Nevada, Western

CapRock Partners Sells First Phase of 1.5 MSF Tropical Logistics Complex in North Las Vegas

NORTH LAS VEGAS, NEV. — CapRock Partners has completed the disposition of CapRock Tropical Logistics Phase I, a recently completed core industrial logistics facility in North Las Vegas. Terms of the sale were not released.Phase I consists of two Class A warehouse buildings totaling 1.1 million square feet on an 83-acre site. Developed by CapRock, the two buildings are 100 percent leased to three investment-grade credit tenants, including a Fortune 100 ecommerce company.The …

May 3, 2022Acquisitions, Development, Industrial, Nevada, Western

Ready Capital Closes $34.4M Loan for Multifamily Property in Las Vegas

LAS VEGAS — Ready Capital has closed $34.4 million in financing for the acquisition, renovation and stabilization of a 152-unit apartment community in central Las Vegas. Upon acquisition, the undisclosed borrower will implement a capital improvement plan consisting of interior and exterior renovations, along with deferred maintenance.Ready Capital closed the nonrecourse, interest-only, floating-rate loan, which features a 36-month term, two extension options, flexible prepayment and a …

April 27, 2022Acquisitions, Loans, Multifamily, Nevada, Western

UnCommons Breaks Ground on Phase II of Mixed-Use Community in Southwest Las Vegas

LAS VEGAS — UnCommons Matter Real Estate Group has broken ground on Phase II of its $400 million, 40-acre mixed-use community in southwest Las Vegas. The second phase will feature a conference center, two office buildings and an additional parking garage with nearly 750 stalls. Construction is slated for completion by summer 2023.Components of Phase II include The Assembly, a 5,000-square-foot conference center offering indoor and outdoor space accommodating meetings for 10 to 250 people; …

April 25, 2022Development, Mixed-Use, Nevada, Office, Western

RealComm Advisors Negotiates Sale of 34,982 SF Industrial Property in Las Vegas

LAS VEGAS — RealComm Advisors has brokered the sale of a 34,982-square-foot industrial building located at 7090 W. Arby Ave. in Las Vegas. 7090 Arby LLC purchased the asset for $7.3 million.Greg Pancirov and Paul Hoyt of RealComm Advisors represented the seller, Palo Alto Properties, in the

April 22, 2022Acquisitions, Industrial, Nevada, Western

RealComm Advisors Negotiates $10.7M Sale of Industrial Building in Las Vegas

LAS VEGAS — RealComm Advisors has arranged the sale of an industrial property located at 4750 W. Sunset Road in Las Vegas. Oulette DS acquired the 42,000-square-foot building for $10.7 million.Greg Pancirov and Paul Hoyt of RealComm handled the

April 21, 2022Acquisitions, Industrial, Nevada, Western

Reno Retail Sets Record Highs, Lows

By Bret Nicholson, Retail Specialist, Marcus & MillichapReno’s retail sector is setting records as of February 2022. Vacancies are hovering near an all-time low of 4.9 percent, and asking rents have risen to new heights, averaging $1.72 per square foot on a monthly basis. Sellers are achieving cap rates comparable to those seen in core markets, resulting in sale prices that many would not have thought possible only a few years ago. A number of factors have contributed to the …

April 12, 2022Market Reports, Nevada, Retail, Western, Western Market Reports

Dreamwork Management Buys Crossroads at Sunset Retail Center in Henderson, Nevada for $28.7M

HENDERSON, NEV. — Dreamwork Management has acquired Crossroads at Sunset, a 13.9-acre multi-tenant retail center at the corner of Sunset Road and Stephanie Street in Henderson. SS Capital sold the asset for $28.7 million.Chris Clifford, Steve Neiger and Brett Rather of Colliers represented the seller in the

April 8, 2022Acquisitions, Nevada, Retail, Western

Inspired Healthcare Capital Acquires Summit Estates Senior Living in Reno, Nevada

RENO, NEV. — Inspired Healthcare Capital (IHC) has acquired Summit Estates Senior Living, a 124-unit assisted living and memory care community in Reno.The price and seller were not disclosed.IHC is a Scottsdale, Arizona-based private real estate investment firm that focuses on the seniors housing sector. This was IHC’s first acquisition in 2022, after closing on nine senior housing transactions in

April 6, 2022Acquisitions, Multifamily, Nevada, Seniors Housing, Western

Avison Young Negotiates $129.7M Sale of Two Multifamily Properties in Las Vegas

LAS VEGAS — Avison Young’s Sauter Multifamily Group has brokered the sale of two apartment communities in Las Vegas. The assets traded for $129.7 million, or $183,192 per unit.The sale includes Viridian Apartments, which was built in 1981 and features 456 apartments at 4255 W. Viking Road, and Topaz Apartments, which was built in 1985 and offers 252 units at 4020 Arville St.Patrick Sauter, Art Carll-Tangora and Steve Nosrat of Avison Young handled the

April 4, 2022Acquisitions, Multifamily, Nevada, Western