June 1, 2017
New York-based Blackstone acquired three apartment complexes in Las Vegas from Nevada West Partners for $170 million. The assets total 972 units and include Union Apartments and SW, in Las Vegas, as well as Dream in Henderson.
NGKF’s Doug Schuster handled the sale. He noted the transaction was unique for the Las Vegas market because the properties were sold as a portfolio, rather than single transactions.
The trio of properties were in the 93%-occupied range. Union Apartments is located at 4450 S. Hualapai Wy. in Las Vegas, SW is located at 6355 S. Durango Dr. in Las Vegas, and Dream is located at 1005 Wigwam Pkwy in Henderson.
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