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MULTIFAMILY NEWS
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Luxury Res Community in Las Vegas Sells for $53.6 Mil

10/25/16

Toronto-based Starlight Investments Ltd recently closed on a Las Vegas multifamily investment, paying $53.6 mil for South Blvd, a 320-unit ($167.5k/unit) property in the city’s South Las Vegas submarket. The luxury asset was sold by The Praedium Group LLC.

South Blvd is comprised of 29 two-story buildings and offers a mix of one-, two- and three-bedroom units. The property features such in-unit amenities as granite countertops, full-size washer and dryer sets, dark wood cabinetry, stainless steel kitchen appliances and private entries.

Community amenities include two resort-style pools, a sun bathing pool and a spa, an e-lounge and executive business center, a movie theater with stadium seating, a 24-hour fitness center, a designated pet area and complimentary coffee café. South Blvd is situated just 15 minutes from the Las Vegas Strip and benefits from its close proximity to the largest inventory of office properties in the Las Vegas metro.

John Cunningham and Charles Steele with JLL represented the seller in the transaction. According to Cunningham, the property drew strong interest from a number of buyers including cross-border investors.





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