LAS VEGAS — September 20, 2019 — Berkadia today announced the $36 million sale of Alpine Village, a garden-style multifamily property in Las Vegas. Managing Director Brian Anderson and Associate Director Jared Glover of Berkadia’s Las Vegas office completed the sale on behalf of a California-based private investor. The buyer was California-based Element Property Company, and the deal closed on September 4.
“Las Vegas continues to lead the nation in rent growth, prompting significant investor interest and capital flow to the city’s multifamily sector,” said Glover. “The buyer, budgeting a $4 million renovation, took advantage of Alpine Village’s high occupancy and close proximity to strong employment centers, the College of Southern Nevada and the recently expanded Medical District.”
Alpine Village, located at 901 Brush St., affords convenient access to Springs Preserve, Rotary Park and the shops and restaurants along West Charleston Boulevard. The 324-unit property features one-, two- and three-bedroom floor plans with air conditioning, large closets and private patios and balconies. Community amenities include a clubhouse, a fitness center, an indoor spa, a playground, a soccer field, a business center, a pool and laundry facilities.