LAS VEGAS — Waterton has purchased a two-community apartment portfolio in the Centennial Hills master-planned community in Las Vegas. Situated 15 minutes northwest of downtown Las Vegas, the portfolio offers a total of 624 apartments in a mix of one-, two and three-bedrooms layouts.
The acquisition includes Ely at Centennial Hills, a 312-unit property at 5900 Sky Pointe Drive, and Pointe at Centennial Hills, a 312-unit property at 5850 Sky Pointe Drive. Waterton plans to rebrand the assets as one community: The Paisley & Pointe at Centennial Hills.
A portion of the residences and amenity spaces at both properties have undergone cosmetic upgrades. However, Waterton still plans to implement a value-add strategy across the assets.
Amenities at the properties include clubhouses, picnic and barbecue areas, playgrounds, fitness centers, resort-style pools and in-unit washers/dryers. Ely at Centennial Hills also includes a dog park, shuffleboard and billiards, while Pointe at Centennial Hills features basketball and tennis courts.
Terms of the acquisition were not released.