
Las Vegas Apartment Asset Trades for $58M
San Diego-based MG Properties Group acquired Bristol at Sunset Apartments in Henderson, NV for $58.25 million. The property at 2001 Ramrod Ave. was built in 1989 and consists of 432 units.
MG Properties Group’s Mark Gleiberman says, “Bristol at Sunset is a compelling value-add opportunity in a market which is experiencing tremendous job growth. This community fits well with our existing Las Vegas portfolio, and will enable us to further create efficiencies in the market.”
MG Properties Group plans an extensive renovation of common areas and unit interiors.
CBRE’s Spence Ballif represented the unnamed sellers. The acquisition was financed with a $39.4-million Fannie Mae Loan arranged by CBRE’s Brian Eisendrath and Cameron Chalfant.
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