Nevada

Farnam Realty Acquires 430-Unit Veritas Apartments in Las Vegas

by Nellie Day August 3, 2017

LAS VEGAS — Farnam Realty has acquired the 430-unit Veritas Apartments in the Las Vegas submarket of Henderson for an undisclosed sum. The Class A community is located at 3370 St. Rose Parkway. Veritas Apartments was built in 2010. It offers one- to three-bedroom units. The building features four swimming pools, a covered patio with an outdoor kitchen, barbecue grills, a fitness center with a yoga room, and a clubhouse with gaming room and cyber café. JLL’s John Cunningham and Charles Steele represented executed the sale. The seller was Monogram Residential Trust.

August 3, 2017

Nevada Office Western

Nevada Childhood Cancer Foundation, The Caring Place Open in Las Vegas

by Nellie Day August 2, 2017

LAS VEGAS — DC Building Group has completed construction on the Nevada Childhood Cancer Foundation and The Caring Place, which assists thousands of Southern Nevada residents every year. The 15,578 square-foot facility is located at 3711 E. Sunset Road. The facility will be referred to as the “Britney Spears Campus” due to her generous fundraising efforts of more than $1 million. The new structure combines more than 45 pediatric and adult services that were previously housed in two locations. Construction began on April 17. A grand opening celebration is scheduled for this October. The Nevada Childhood Cancer Foundation provides social, educational, financial and psychological support services and programs to families of children diagnosed with life threatening or critical illnesses. Penta Building Group acted as subcontractor, while Almany Architecture designed the space.

August 2, 2017

Multifamily Nevada Student Housing Western

Peak Campus to Operate Rebel Place Student Housing in Las Vegas

by Nellie Day July 31, 2017

LAS VEGAS — Atlanta-based Peak Campus has been awarded management of Rebel Place in Las Vegas, along with three other student housing communities in Texas and North Carolina. Waypoint Campus Housing, an affiliate of Waypoint Residential, purchased the 2,062-bed portfolio. Each community is located minutes from campus, and offers shared amenities including clubhouses with gaming stations, resort-style pools, business centers and computer labs, study rooms, sports courts, and outdoor social and grilling areas.

July 31, 2017

Nevada Retail Western

At Home Opens First Location in Nevada

by Nellie Day July 24, 2017

HENDERSON, NEV. — At Home Group Inc. has opened its first Nevada location in Henderson. The home décor superstore is the company’s westernmost location as it enters its 33rd state. Nevada’s first At Home is more than 140,000 square feet and offers over 50,000 home décor items from furniture, mirrors, rugs, art and housewares to tabletop, patio and seasonal items, including more than 100 different Christmas tree varieties. The Henderson At Home is one of more than 25 new store openings this year for the home décor chain. The company is headquartered in Plano, Texas, and currently operates 136 stores in 33 states.

July 24, 2017

Multifamily Nevada Seniors Housing Western

Chicago Pacific Founders Acquires 160-Unit Seniors Housing Community in Las Vegas

by Nellie Day July 11, 2017

LAS VEGAS — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired Acacia Springs, a 160-unit seniors housing community in Las Vegas. This is CPF Living’s third property in the state of Nevada. Grace Management will take over operations of the community. The property is near the Red Rock Casino and 13 miles from the Las Vegas strip. The sale price was not disclosed, but Aron Will of CBRE National Senior Housing arranged $13.5 million in Fannie Mae acquisition financing for the deal. The seven-year, non-recourse loan features 3.5 years of interest-only payments.

July 11, 2017

Loans Nevada Retail Western

Eyzenberg & Co. Arranges $18.1M Refinancing for The Shoppes at Harmon Square in Las Vegas

by Nellie Day July 11, 2017

LAS VEGAS — Eyzenberg & Co. has secured an $18.1 million refinancing for The Shoppes at Harmon Square, a 31,384-square-foot retail center located across from the Hard Rock Hotel & Casino in Las Vegas. Tenants at the newly renovated center include Dunkin’ Donuts, Subway, 7-Eleven, Liquor World, Tropical Smoothie and Roberto’s Tacos. David Eyzenberg, Jeff Conti and Elena Vlasyuk of Eyzenberg & Co. arranged the fixed-rate senior secured loan on behalf of the owner, HD Harmon Square LLC. Benefit Street Partners provided the capital.

July 11, 2017

Loans Multifamily Nevada Seniors Housing Western

CBRE Arranges Financing for 116-Unit Independent Living Community in Las Vegas

by Nellie Day July 6, 2017

LAS VEGAS — CBRE has arranged financing for The Echelon, a 116-unit independent living community in Las Vegas. The borrower is Chicago Pacific Founders, which acquired the property in 2014. Since that acquisition, the new owners have increased occupancy from around 75 percent to 98 percent. Grace Management, a wholly owned subsidiary of Chicago Pacific Founders, operates the community. CBRE secured a non-recourse, five-year, fixed-rate loan that includes 24 months of interest-only payments. A CMBS lender provided the capital. The amount and use of the financing were not disclosed.

July 6, 2017

Nevada Restaurant Retail Western

Dunkin’ Donuts Opens Location in Hard Rock Hotel & Casino

by Nellie Day June 27, 2017

LAS VEGAS — Dunkin’ Donuts has opened a new location inside Hard Rock Hotel & Casino Las Vegas in partnership with travel industry retailer Hudson Group. The newly opened Las Vegas location is one of more than 20 Dunkin’ Donuts restaurants operated by Hudson Group. The restaurant can be found on the first floor of the hotel near the main entrance and is open 24 hours a day, 7 days a week. Dunkin’ Donuts has been strategically expanding in contiguous markets across the country with a long-term goal of having more than 17,000 restaurants in the United States alone. This expansion includes more than 750 alternative points of distribution, including college campuses, hotels, mass transit stations, travel centers, supermarkets, entertainment centers and military bases. Founded in 1950, Dunkin’ Donuts has more than 12,200 restaurants in 45 countries worldwide. Based in Canton, Mass., Dunkin’ Donuts is part of the Dunkin’ Brands Group Inc.

June 27, 2017

Industrial Nevada Western

Dermody Properties Completes First Building at LogistiCenterSM Near Reno

by Nellie Day June 23, 2017

RENO, NEV. — Dermody Properties has completed the first building at LogistiCenterSM, four miles from the California border in western Reno. The 223,619-square-foot building is already fully leased. Dermody plans to develop an additional 803,022 square feet at the center. Building 2 will consist of 182,000 square feet. It is scheduled for completion in September, after which construction of Phase II will commence. CBRE’s Eric Bennett and Gordon Zach is marketing the properties for lease.

June 23, 2017

Nevada Retail Western

RCG Ventures Buys Sparks Crossing Shopping Center Near Reno for $40.2M

by Nellie Day June 14, 2017

SPARKS, NEV. — RCG Ventures has acquired Sparks Crossing, a 335,981-square-foot shopping center located roughly four miles outside Reno in Sparks, for $40.2 million. The property is home to tenants including Ross Dress for Less, Bed Bath & Beyond, Cost Plus World Market, Best Buy, Michaels, PetSmart, Ulta Beauty and Dollar Tree. Peter Bethea and Rob Ippolito of Newmark Grubb Knight Frank represented the undisclosed seller in the transaction.

June 14, 2017

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