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Vegas Luxury Res Property Sells for Over $200k/Unit

12/08/16

Loft 5, a 241-unit ($213.7k/unit) luxury multifamily asset in Las Vegas was sold in a recent $51.5 mil transaction. The property was purchased by Steppe Bros Loft 5 LLC.

Located off I-15 just 10 minutes from the Las Vegas Strip, Loft 5 offers residents access to 15 of the world’s 25 largest hotels and other attractions that drew more than 42 million visitors to the city last year.

Loft 5 provides residents with luxury community amenities such as four resort-style pools and hot tubs, outdoor fireplaces and grills, a fitness center and steam room and a club lounge. In-unit amenities include 12- or 20-foot ceilings, natural stone countertops, designer cabinets, bamboo hardwood flooring, washer and dryer, kitchen islands with a gas range, and built-in Sub-Zero refrigerators. All units also include private balconies or terraces.

John Cunningham and Charles Steele with JLL represented the seller, DK Loft 5 LLC, in the deal.






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