July 9, 2019
Chicago-based Waterton acquired a two-property residential portfolio totaling 720 units in Las Vegas. The seller and price were undisclosed.
Built in 1996 and 1989, respectively, the properties include:
– Mirasol: 2180 E Warm Springs Rd., Las Vegas (pictured), 400 units across 50 two-story garden-style buildings with a clubhouse, fitness center, dog park and pool on 22 acres.
– Fairways on Green Valley: 1851 N Green Valley Pkwy., Henderson, 320 units across 39 two-story garden-style buildings with a welcome center, clubhouse, recreation center and pool on nearly 16 acres.
The acquisition marks Waterton’s re-entry into the market. It sold its last local asset in June 2017.
Waterton’s David Schwartz says, “Favorable late cycle economic growth in Las Vegas is a large part of what drove our decision to re-enter this market. These assets are situated in highly desirable locations, and offer excellent in-place amenities in a rapidly-growing market, making them a great addition to our value-add program and portfolio.”
Connect Bay Area is coming up July 18, 2019 at the Grand Hyatt San Francisco. Get more information, and register to attend on this link.
For comments, questions or concerns, please contact Dennis Kaiser