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Tower 16 Lands Las Vegas MF, Plans Renovation
Carlsbad, CA-based Tower 16 Capital Partners, in a joint venture with Henley USA, acquired Evergreen Apartments, a 314-unit, multifamily project in Las Vegas for $29.5 million. The asset was sold by Encinitas, CA-based The Apartment Company.
The community features studio, one and two-bedroom apartments with covered parking and private patios. It includes two pools, barbecue and picnic areas, a fitness facility, a business center, a playground and on-site laundry facilities.
Tower 16 will oversee $4 million in renovations and upgrades to the project, which is located at 2950 S. Decatur Blvd., two miles west of the Las Vegas Strip. That includes updating the community’s common areas, relocating the leasing office, expanding the gym and renovating all apartment interiors with new vinyl flooring, appliances, plumbing, lighting fixtures and paint.
Berkadia’s Brian Anderson and Angela Powers represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
