Investor Trio Opens $50.7M Las Vegas Rental Community
In this high-interest environment, it’s rare to see one investor take on a multimillion-dollar apartment build by themselves. Sharing the risk seems to be a must to get something going. The trio of Cantor Fitzgerald, Silverstein Properties and TRU Development have opened theAPEX@meadows, a 334-unit luxury multifamily community in Las Vegas. The project had been underway since 2021, when the development partnership financed it with a $50.7 million construction loan, originated and provided by Mack Real Estate Group, Yardi Matrix data shows.
Perlman Architects served as the main architect, Martin-Harris Construction as the general contractor, while Greystar is the leasing agent and property manager. Silverstein Properties purchased the 9.6-acre project site in 2018. theAPEX@meadows is at 4480 Meadows Lane.
The property comprises two, five-story buildings with one- and two-bedroom floorplans ranging between 639 and 943 square feet. Common-area amenities include a swimming pool, a fitness center, an outdoor courtyard, a clubhouse, a rooftop lounge, co-working space, a spa, controlled access and approximately 551 parking spaces.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.