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| 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.
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| Charles Steele |
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
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