Next Wave Investors LLC, a private equity firm focused on value-add multifamily investments, recently sold Spanish Oaks, a 216-unit garden-style multifamily community for $50 million after acquiring it for $28.5 million in February of last year.
Avison Young has announced the Sauter Multifamily Group, comprised of principals Patrick Sauter, Art Carll-Tangora and Steve Nosrat, based in the firm’s Las Vegas office, closed the $126 million sale — $126,506 per unit — of Harbor Island Apartments at 370 E Harmon Ave. The buyer was Laguna Point Acquisitions, and the seller was 3D Investments.
Cushman Wakefield has advised on the sale of The Lennox, a luxury apartment community. Constructed in 2015, the 100-unit “A” class multifamily asset is located at 430 E Cactus Road and sold to an undisclosed buyer for $38.5 million, or $385,000 per unit.
Kairos Investment Management Co., a firm that focuses on value-based real estate investments with favorable risk/reward characteristics, has acquired Siena Townhomes, a 195-unit affordable multifamily property in central Las Vegas in an off-market transaction.
Bear Real Estate Advisors, a national investment services firm, represented Cypress West Partners in the acquisition of a four-building, multitenant medical office building portfolio in Henderson. Total sale price for the portfolio totaled $17.1 million.
Dapper Cos. has reached a deal with SoHo Playhouse to be the sole operator of the historic Huntridge Theater in downtown Las Vegas. The signing of the lease was completed after the first of the year. In addition to a 1,150-seat multiuse concert hall and 450-seat off-Broadway theatre in the existing building, two additional spaces will be added to the south side of the property for additional venues.
Contour, a leading privately held real estate and development company based in Southern California, has announced it closed on 1.9 acres of land in Mountain’s Edge, a master-planned community in southwest Las Vegas. The site will be used for commercial development and is at 8575 Blue Diamond Road on the southeast intersection of South Durango Drive.
MCA Realty, real estate investment and management company based in Orange County, California, has announced the recent acquisitions of five assets: two in Washington; two in Las Vegas; and one in Orange, California, for a total consideration of just over $71 million.
Matter Real Estate Group announced the purchase of a 42-acre land site in North Las Vegas at the Tropical/I-15 interchange. The site will be home to Matter Logistics @ North 15, a 1 million-square-foot industrial development. Matter will break ground on the project later this year with an opening planned for late 2022. Matter Logistics @ North 15 is funded by Principal Real Estate Investors.
TruAmerica Multifamily has increased its footprint in some of the strongest multifamily markets in the United States after closing last week on garden-style communities in Las Vegas; Tampa, Florida; and Salt Lake City, Utah, in three separate transactions totaling $209 million.