Mystic Sands Divests of Inspirado Apartments in Las Vegas for $52M
LAS VEGAS — Mystic Sands has completed the sale of Inspirado Apartments, a 247,072-square-foot multifamily property in Las Vegas’ Centennial Hills neighborhood. NNC Apartment Ventures acquired the asset for $52 million.
Located at 6885 W. Lone Mountain Road, Inspirado Apartments features 116 one-bedroom/one-bath, 120 two-bedroom/two-bath and 16 three-bedroom/two-bath units. Built in 2010 on 11.1 acres, the property offers a European-style swimming pool, hot tub, cabana area with built-in grill, fitness facility and business center. At the time of sale, the property was 95.6 percent occupied.
Taylor Sims, Carl Sims, Brady Cleary of Cushman & Wakefield’s Nevada Multifamily Advisory Group represented the seller in the deal.