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Banyan Enters Las Vegas Market with $61M BTR Acquisition
Los Angeles-based real estate investment firm Banyan Residential has acquired Banyan Brighton, a 133-unit, build-to-rent (BTR) luxury townhome community in Las Vegas, NV. The firm purchased the neighborhood, located within the city’s master-planned Skye Canyon community, for $61 million.
“We are proud to expand into the Las Vegas market with the acquisition of Banyan Brighton,” said Banyan Residential’s Max Friedman. “We’re confident that this community will be a success and add value to the North Las Vegas submarket, which continues to outperform both regional and national market averages.”
Upon completion, Banyan Brighton will offer two- and three-bedroom townhomes with first-class finishes, a private outdoor living space and an attached two-car garage. Amenities at Skye Canyon include a fitness facility, modern clubhouse, full-service coffee shop and five distinct parks. Cushman & Wakefield is actively leasing the townhomes, and final units are expected to be delivered in mid to late 2023.
- ◦Sale/Acquisition
