Saturday, September 26, 2015

JLL’s Vantage Lofts Sale Achieves Record Per-Unit Price for Metro Las Vegas

John Cunningham
 LAS VEGAS, NV – A highly amenitized, core-plus luxury development combined with a reinvigorated institutional investor market this week to achieve the highest per-unit multifamily sale price in the history of metro Las Vegas.

 On behalf of Goodman Real Estate, JLL’s Capital Markets experts announced the $39 million sale of Vantage Luxury Flats and Loft Living (Vantage) to buyer The Bascom Group. The sale, which includes an existing 110 units and adjacent 3.8-acre parcel, reflects a per-unit price of more than $345,000.

Executive Vice President John Cunningham and Vice President Charles Steele led the JLL team in the transaction.

“Vantage is truly an institutional-quality asset, drawing interest from multiple institutional buyers who were previously hesitant to return to Las Vegas,” said Cunningham. “Vantage’s incomparable quality, combined with the recovery of the Las Vegas multifamily market and accelerating economic growth, proved invaluable.”

“The exceptional finishes and exclusive lifestyle at Vantage facilitated a successful lease-up featuring some of the highest rental rates in the Las Vegas Valley,” said Steele.

Located at 201 S. Gibson Road in Henderson, Nevada, and completed in 2014, Vantage is comprised of three five-story buildings featuring 110 units, with 26 unique floor plans including singe-story flats, multi-level lofts and penthouses. Units range from 922 to 3,133 square feet, with an average unit size of 1,831 square feet.
 For a complete copy of the company’s news release, please contact:

 Stacey Hershauer
Marketing & Public Relations
(480) 600-0195

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