Henderson Apartment Complex Sells for $60.68M | Las Vegas Business Press
LAS VEGAS — June 28, 2019 — Berkadia announced today the sale of The Edge at Traverse Point, a garden-style multifamily property in Henderson, Nevada. Managing Director Brian Anderson and Associate Director Jared Glover of Berkadia’s Las Vegas office completed the $60.68 million sale on behalf of the seller, California-based Bascom Group. The buyer was New York-based, and the deal closed on June 6.
“The new owners had the ability to buy a newer vintage property below replacement cost in Henderson–the nation’s leading city for rent growth,” said Anderson. “They plan to take advantage of the tightening submarket through operational efficiencies and minor unit upgrades, on par with recently built properties in the area.”
The Edge at Traverse Point, located at 1131 Wigwam Parkway, affords convenient access to Bruce Woodbury Beltway, Reunion Trails Park, Railroad Lake and the shops and restaurants along Wigwam Parkway. The 296-unit property features one-, two- and three-bedroom floor plans with walk-in closets, private balconies, stainless steel appliances and granite surfaces. Community amenities include two pools and covered parking.