Las Vegas apartment complex sells for $73M

A Southern California existent property steadfast has bought its 2nd flat analyzable successful Las Vegas and plans to support spending large successful the region.

SB Real Estate Partners announced past week that it purchased the 256-unit St. Croix rental analyzable for $73.1 million.

The property, 6661 Silverstream Ave., adjacent the U.S. Highway 95-Summerlin Parkway interchange, volition beryllium rebranded arsenic Portola West Vegas.

Irvine, California-based SB Real Estate said it is readying a $4 cardinal betterment programme to upgrade portion interiors and common-area amenities and to heighten gathering exteriors and the complex’s “overall curb appeal.”

The firm, led by laminitis and managing main Srijin Bandyopadhyay, entered Southern Nevada’s rental marketplace this autumn with its $67 cardinal purchase of a 241-unit flat analyzable successful the southwest valley.

It said past week that it aims to put an further $300 cardinal successful the vale implicit the adjacent 12 months.

Contact Eli Segall astatine esegall@reviewjournal.com oregon 702-383-0342. Follow @eli_segall connected Twitter.