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National  + Nevada  + Apartments  | 

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.


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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