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Las Vegas Apartments Trade for $52.75M
Northmarq brokered the sale of Millennium East, a 236-unit, garden-style multifamily community in Las Vegas, for $52.75 million. Millennium East, located at 3580 E. Alexander Road in the Sunrise Manor area of Las Vegas, was built in 2000 and renovated in 2018. NNC Apartment Ventures acquired the asset from Aspen Square Management.
In addition to representing the seller, Northmarq’s Debt + Equity team of Bryan Mummaw, Bryan Liu, Brandon Harrington, Tyler Woodard and Chris Gitibin secured $33.5 million in acquisition financing for the buyer. The permanent fixed-rate loan was arranged through Northmarq’s relationship with Freddie Mac.
Millennium East offers one-, two- and three-bedroom apartment homes ranging from 720 to 1,116 square feet. The community offers an array of amenities such as a pool, gym, playground, dog park, package lockers and covered parking.
- ◦Sale/Acquisition
