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| Willows at Town Center Apartments, Las Vegas, NV |
Las Vegas, NV,
Jan. 28, 2019 – 29th Street Capital (29SC), a privately-held real estate
operator, has acquired Willows at Town Center Apartments, a 188-unit multifamily community located in Las Vegas,
Nevada.
29SC plans to invest over $1.8
million in capital improvements. Interiors will receive stainless steel
appliances, quartz countertops, plank flooring and refaced cabinets.
All interior units will also be
equipped with Nest Thermostats. Exterior improvements will focus on modern
paint in addition to enhancing the pool area, fitness center and clubhouse to
boost overall curb appeal.
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| Dusty Eddy |
“Willows at Town Center is in
the desirable Centennial area, which is one of the fastest growing submarkets
in the entire valley,” said Dusty Eddy, 29SC’s Senior Vice
President of Acquisitions in the Southwest. “This asset has convenient access
to major employment areas in the submarket as well as the greater MSA via US-95
and 215 Beltline.”
The Las Vegas metro is home to
approximately 75% of Nevada’s residents with above average population growth of
2.4%. The area is also experiencing strong employment and wage growth compared
to the national average. Single-family housing prices are approaching
pre-recession peak levels, causing the cost of home ownership to rise.
“Las Vegas is ranked as the
number one rent growth market year-over-year according to multiple data
sources,” Eddy added. “We feel that the positive demographic trends for the
market will continue, which will allow us to execute our business plan and
offer higher quality yet still affordable housing.”
CONTACT:
Terri
Thornton
terri@territhornton.com
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