REBusiness Online: CRA, The Roxborough Group Sell Las Vegas Multifamily Portfolio for $137.5 Million
July 10, 2019
LAS VEGAS — Continental Realty Advisors (CRA) and The Roxborough Group have sold a three-community multifamily portfolio spanning 1,194 units in Las Vegas. The price was $137.5 million. The buyer was not disclosed.
The Las Vegas portfolio includes: the 440-unit Stonegate Apartments, which was constructed in 1991; the 402-unit Loma Vista Apartments, constructed in 1998; and the 352-unit Viridian Palms (formerly Stonegate West) constructed in 1990.
In recent years, the sellers invested over $5 million in repairs and improvements at the properties.