Attorney Kavita Gupta has been appointed to serve as the Chapter 11 Trustee overseeing the bankruptcy sale of 38.56 acres of privately owned real property on the world-famous Las Vegas Strip. The Bankruptcy Court has approved bid procedures setting a bid deadline of April 30 and May 19 auction for qualified bidders.
Colliers International | Las Vegas announces the $62.4 million sale of Raceway Industrial Park, a warehouse distribution facility in northeast Las Vegas.
Newmark Knight Frank has announced it facilitated the sale of Bonneville Square, a five-story office building in downtown Las Vegas, for $14.9 million.
MCA Realty, a full service real estate investment and management company, has sold Walnut Business Park, a two-building, 94,808-square-foot multitenant industrial business park. MCA sold the asset to CapRock Partners LLC for $7.85 million.
Cameron Glinton of LOGIC Commercial Real Estate (Logic) has announced the sale of Hacienda Heights, a 216-unit apartment building in the southeast submarket built in 2008. Logic represented the seller, DK Nellis LLC and procured the buyer, Oak Residential Partners (Oak) of Deerfield, Illinois. The property closed at $33,75 million, which was $175 per square foot, and $156,250 per unit. Logic was engaged to identify a qualified buyer who was familiar with the market and asset to enact a successful close.
Northcap Commercial has announced the sale of the Desert Inn Apartments for $2.7 million ($75,000/unit). This sale consisted of 36 multifamily units built in 1963, at 1075, 1089, 1107, and 1121 E. Desert Inn Road. This transaction closed on Oct. 23. Northcap Multifamily represented the seller, Blue Elephant LLLP.
MG Properties Group, a private San Diego-based real estate investor and operator, has announced the acquisition of Village at Desert Lakes Apartments.
San Diego-based Tower 16 Capital Partners, in a joint venture with Henley Investments, has acquired Five89 Apartments, a 312-unit multifamily project for $32.5 million. The property was acquired on an off-market basis from a private seller.
On behalf of Haven Realty Capital, Cushman Wakefield completed the sale of Mountain Vista to an undisclosed buyer for $17.75 million.