Continental, Roxborough Divest Las Vegas Portfolio for $138M

Connect Bay Area is coming up next week at the Grand Hyatt San Francisco. Get more information, and register to attend on this link.

Denver-based Continental Realty Advisors Ltd. and San Francisco-based The Roxborough Group, LLC, through an affiliate of Roxborough Fund I, L.P., sold a three-community portfolio comprised of 1,194 units in Las Vegas for $137.5 million. The buyer was undisclosed.

Continental Realty Advisors’ David Snyder says, “The business plan hinged on stabilizing what was perceived at the time of acquisition to be underperforming properties. This was achieved with strategic oversight, upgrades to the community common areas and amenities, as well as light value-add unit enhancements to appeal to the demographics of each location.”

The portfolio included the 440-unit Stonegate Apartments constructed in 1990/91, 402-unit Loma Vista Apartments constructed in 1998, and 352-unit Viridian Palms (formerly Stonegate West, pictured) built in 1990.

CBRE’s Spence Ballif brokered the deal.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Continental Realty Advisors’ SnyderConnect With CBRE’s Ballif

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

Order Reprints

◦Sale/Acquisition

Sub Markets

National

Property Sectors

Topics

National CRE News In Your Inbox.

Continental, Roxborough Divest Las Vegas Portfolio for $138M

Inside The Story

About Dennis Kaiser

STAY INFORMED

Sub Markets

National

Property Sectors

Topics

National CRE News In Your Inbox.

Continental, Roxborough Divest Las Vegas Portfolio for $138M

Inside The Story

About Dennis Kaiser