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LAS VEGAS — Cottonwood Group has purchased Summit on Nellis (formerly The Boulevard) and The Quinn, two apartment communities in Las Vegas, for $64 million and $58.5 million, respectively. The acquisition marks Cottonwood’s entry into the Las Vegas multifamily market.
The Summit on Nellis, located at 3050 S. Nellis Blvd., features 296 units, and The Quinn, at 5500 S. Mountain Vista St., offers 237 units.
For both transactions, Cottonwood partnered with experienced operators and contributed the majority of the equity. This year, Cottonwood has invested in six multifamily properties, including these two in Las Vegas.