$50M Off-Market MF Deal Completed in Las Vegas

San Diego-based Tower 16 Capital Partners, in a joint venture with Henley USA, acquired Foothill Village, a 512-unit multifamily project in Las Vegas’s Spring Valley submarket for $50 million. The project was acquired on an off-market basis from an unnamed private seller.

Tower 16’s Tyler Pruett says, “The Foothill Village acquisition fits very well with our investment strategy with Henley USA in the Las Vegas market. The project offers significant operational and capital improvement upside, and allows us to provide much-needed workforce housing in Las Vegas.”

The property has one, two and three-bedroom apartments and townhomes. Community amenities include three swimming pools, two spas, two basketball courts, four laundry facilities, a business center, a large playground and dog runs.

Tower 16 will be overseeing nearly $7 million in renovations and upgrades to the project, including new outdoor amenities, gym, leasing office and interior renovations.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Tower 16’s Pruett

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.

$50M Off-Market MF Deal Completed in Las Vegas

Inside The Story

About Dennis Kaiser

STAY INFORMED

Sub Markets

National

Property Sectors

Topics

National CRE News In Your Inbox.

$50M Off-Market MF Deal Completed in Las Vegas

Inside The Story

About Dennis Kaiser