LAS VEGAS and LOS ANGELES — June 17, 2019 — Berkadia today announced the $20.6 million sale of The Lennox, a garden-style multifamily property in Las Vegas. Managing Director Brian Anderson and Associate Director Jared Glover of Berkadia’s Las Vegas office, along with Managing Director Vincent Norris and Associate Director Eric Norris of Berkadia’s Los Angeles office together completed the sale on behalf of the property’s seller, Nevada-based WGH Partners and their equity partner FECR. Benjy Garfinkle of WGH Partners also acted on behalf of both WGH Partners and FECR. The buyer was California-based Interwest Capital Corporation, and the deal closed on May 24.
“The new owner plans to upgrade the amenity package through expansive upgrades to the pool and common areas. Through this, the Lennox can now compete with other new luxury apartments, while maintaining the boutique feel of the property,” said Anderson. “The property is reminiscent of higher-end luxury in West Los Angeles, which will be attractive to tenants looking for and familiar with that lifestyle.”
The Lennox, located at 430 E. Cactus Ave., affords convenient access to McCarran International Airport, Silverado Ranch Park and the shops and restaurants along Bermuda Road. The 100-unit property features one-, two- and three-bedroom floor plans with granite countertops, high-ceilings, private balconies, stainless-steel appliances and walk-in closets. Community amenities include barbecue grills, a fitness room, private cabanas, a recreation deck, a resort-style pool and covered parking.