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Las Vegas Continues its Growth Run, Fueling Demand for Housing
Silver Creek Apartments, a 224-unit multifamily property in Las Vegas, recently sold for $35 million. The property is located at 6170 Boulder Hwy. in the southeast area of the Las Vegas Valley.
Garry Cuff and Tom Naseef with Coldwell Banker Commercial Premier represented the buyer, a Southern California-based investment firm, in the transaction.
“This was an off-market sale that was generated by our relationships with both the buyer and the seller,” said Naseef. “The property is operated as a rent-restricted apartment community, providing affordable housing in Las Vegas.”
Silver Creek was built in 2002 and consists of a mix of one-, two- and three-bedroom units.
“Las Vegas continues its run as one of the nation’s fastest-growing markets during the pandemic, fueling demand for housing. Investors and lenders have become more comfortable with the long-term outlook as quarterly apartment sales volume recently eclipsed $1 billion for only the third time in Las Vegas’ history,” said Cuff.
- ◦Sale/Acquisition
