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July 17, 2018
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Vegas Area Multifamily Community Traded in $76 Mil Deal


Farnam Realty Inc bought Veritas Apartments, a 430-unit, Class A multifamily building in the Las Vegas suburb of Henderson, NV. According to tax records, the property traded for $76.5 mil, or about $178k/unit.

Veritas Apartments, which was completed in 2010, offers one-, two- and three-bedroom units. The building features four swimming pools, a covered patio with an outdoor kitchen, barbecue grills, a fitness center with a yoga room, and a clubhouse with gaming room and cyber café.

John Cunningham and Charles Steele with JLL represented the seller, Monogram Residential Trust.

“Las Vegas’ apartment market continues to gain traction with investors as job growth and economic expansion remain ahead of the majority of the country,” said Cunningham. “Veritas is located within an affluent suburb that benefits from this growth, and offers residents an extremely attractive living environment.”

Veritas is located in Henderson, one of Nevada’s premier residential communities which boasts a diverse economic base that extends from healthcare to professional and business services. Residents also have access to more than 5.3 msf of retail space within a three-mile radius of the building, and immediate access to St. Rose Hospital.

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