Waterton Purchases 456-Unit Vegas Towers Apartment Asset in Las Vegas

by Amy Works

LAS VEGAS — Waterton has acquired Vegas Towers, a multifamily property located at 1061 E. Flamingo Road in Las Vegas. Terms of the transaction, including the name of the seller and acquisition price, were not released.

Built in 1974, Vegas Towers consists of two 10-story towers featuring a total of 264 one-bedroom/one-bath units and 192 two-bedroom/two-bath apartments, as well as a two-story clubhouse. Community amenities include an outdoor courtyard space with cabanas, grilling areas, pool and hot tub. Additionally, the property features laundry rooms on every floor, gathering spaces with a variety of seating options for group entertaining, workspaces for business needs and a fitness center.

The buyer plans to implement a combination of renovation strategies that will include interior renovations to upgrade living rooms and bathrooms throughout the property. Select residences will receive quartz countertops, upgraded lighting and plumbing fixtures, new hardware, two-inch blinds and ceiling fans.

CBRE represented the undisclosed seller in the deal.

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