A joint venture between Continental Realty Advisors and The Roxborough Group has sold a Las Vegas apartment portfolio through its affiliate Roxborough Fund I, L.P. The portfolio totaled 1,194 units and traded hands for $137.5 million.

The three-property portfolio includes the 440-unit Stonegate Apartments, the 402-unit Loma Vista Apartments, and the 352-unit Viridian Palms. All of the properties were built in the early 1990s.

The ownership invested $5 million in capital improvements into the properties, and positioned the properties for full interior renovation repair, offering some upside to the buyer.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Las Vegas
Multifamily
Capital Markets