Five89 Apartments Five89 Apartments

Tower 16 Capital Partners has acquired Five89 Apartments, a 312-unit apartment complex in Las Vegas, for $32.5 million. The property is part of the firm's aggressive growth strategy in the Las Vegas market. In the last 18 months, it has acquired 2,300 apartment units in the city.

Located at 4801 E. Sahara Avenue, the property has two- and three bedroom apartments and features two swimming pools and a fitness center. Tower 16 plans to invest $4 million to upgrade the property.

Pinnacle will serve as the new property manager.

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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.