LAS VEGAS-The Praedium Group, a New York City-based national real estate investment firm, has acquired South Blvd. Apartments at 10200 Giles Street. The firm purchased the newly-built, class A, 320-unit multifamily asset from Nevada West Development for $41.9 million.
This deal marks Praedium's first acquisition through its newest investment vehicle. Over the past two decades, Praedium has sponsored a series of eight private equity funds, representing $9.3 billion of capital.
The property is well located just off of Las Vegas Boulevard in a high growth submarket of southern Las Vegas. The location provides tenants with easy access to the employment centers of the strip and downtown Las Vegas.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
