NAI Vegas Sells 752 Multifamily Units Portfolio!
Pine Hills Lodge | Sonoma Shadows
- Two Property Portfolio (752 Units)
- $45,496,000 Sale Price
- All Cash Transaction
- 5.58% Cap Rate
- 89% Occupied
- $60,500 Per Door
- New Agency Debt Placed
NAI Vegas’ Sauter Multifamily Group is pleased to announce the successful negotiation and sale of Sonoma Shadows (376 Units) & Pine Hills Lodge (376 Units) Apartment Portfolio located at 1750 &1500 Karen Avenue, Las Vegas, NV for $45,496,000 ($60,500 per unit) on 09-30-16.
Art Carll and Patrick J. Sauter are pleased to exclusively represented the Seller; Prime Sonoma Shadows, LLC and the opportunity to work with the Buyer; Westland Real Estate Group in this successful transaction.
About NAI Vegas
NAI Vegas is the local representative of NAI Global, the premier international real estate services organization, with over 375 offices in over 55 countries.
Founded in 1988, NAI Vegas has proven itself to be the leading real estate brokerage in Las Vegas. Principals of NAI Vegas have been involved in investment and commercial real estate in Las Vegas since 1972 and have brokered, developed over $3 billion in transactions consisting of multifamily units, retail enters, office buildings and land.
Our strength is international and our passion and focus is local.