MAXX Properties Acquires 609-Unit Villas at Green Valley Multifamily Community Near Las Vegas
HENDERSON, NEV. — MAXX Properties has purchased Villas at Green Valley, a multifamily property located in Henderson, for an undisclosed price. The name of the seller was not released.
Developed in 1984 and 1986, Villas at Green Valley features 609 apartments spread across 38 buildings. The community offers one-, two- and three-bedroom floor plans with an average unit size of 781 square feet. Community amenities include two swimming pools, a spa, fitness center, playground, sports court, two dog parks, picnic pavilions with barbecue grills, parcel lockers, business center and resident lounge with game room.
MAXX plans to complete a modernization program at the property, including improvements to the clubhouse, all common areas and unit interiors.
The acquisition was partially capitalized through the sale of Cedar Run Apartments in Denver. Additionally, MAXX entered into a long-term, fixed-rate mortgage loan with Fannie Mae. KeyBank served as the originator and placement agent for the transaction.