Saturday, December 10, 2016

Luxury Amenities Drive Sale of Las Vegas Multifamily Asset; JLL completes $51.5 million sale of Loft 5

John Cunningham
LAS VEGAS, NV – Las Vegas’ housing market continues to draw investors as economic growth fuels demand, according to JLL Research. 

On behalf of DK Loft 5 LLC, JLL’s Capital Markets experts announced the firm completed the sale of the Loft 5, a 241-unit luxury multifamily asset in Las Vegas. Steppe Bros. Loft 5 LLC purchased the building for $51.5 million.

Executive Vice President John Cunningham and Senior Vice President Charles Steele led the JLL team on the deal.

“Loft 5 presented an opportunity to capture two different segments of the improving Las Vegas housing market: the rental and the sales market,” said Cunningham. “This is a truly unique asset that includes luxury finishes and a sought-after lifestyle, positioning this asset to capture the continued growth of Las Vegas’ residential market.”

Located off Interstate 15 just ten minutes from the Las Vegas Strip, Loft 5 offers residents access to 15 of the world’s 25 largest hotels and other attractions that drew more than 42 million visitors to the city last year.

Loft 5 provides residents with luxury community amenities such as four resort-style pools and hot tubs, outdoor fireplaces and grills, a fitness center and steam room and a club lounge. In-unit amenities include 12 or 20-foot ceilings, natural stone countertops, designer cabinets, bamboo hardwood flooring, washer and dryer, kitchen islands with a gas range, and built-in Sub-Zero refrigerators. All units also include private balconies or terraces.

  For a complete copy of the company’s news release, please contact:

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

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