Saturday, December 30, 2017

JLL arranges $115 million sale of Las Vegas multifamily portfolio


 
John Cunningham
LAS VEGAS, NV --JLL’s Capital Markets experts  announced the company arranged the sale of two multifamily communities in Las Vegas on behalf of a partnership between AEW Capital Management, on behalf of one of its separate account clients, and Alliance Residential Company.

 LivCor purchased the portfolio, which includes Broadstone Talavera and Broadstone Flamingo West, for $115 million.

Executive Vice Presidents John Cunningham and Charles Steele led the JLL team on the transaction.

“The portfolio offered investors well-maintained, ideally located assets with value-add potential,” said Cunningham. “This transaction demonstrates further institutional investment into the Las Vegas Metro market fueled by economic and employment growth.”

Broadstone Talavera includes 350 units, a fitness center, two pools and a spa. It is located near a number of restaurants and retail outlets and is less than eight miles from the Las Vegas Strip. 

Broadstone Flamingo West features 324 units, a fitness center, two pools and a dog park area. The community is located near some of the largest employers in the area and less than seven miles from the Las Vegas Strip.

JLL delivers multifamily investors a full range of solutions through one diverse, integrated platform. The division employs over 200 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. 

Charles Steele
JLL is also one of the nation’s largest affordable and conventional multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

For more, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more content, including videos and research resources on JLL, please visit the firm’s U.S. media center web page: http://bit.ly/18P2tkv.

For more information on this transaction, please contact:

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195
www.focusaz.com

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