Private Equity Firm Picks Up 312 Units in Las Vegas

Private equity firm Henley Investments has partnered with Tower 16 Capital to purchase Five89, a 312-unit apartment complex in Eastern Las Vegas. The investors will rebrand the property as Accent.

Five89 is a collection of studio, one-, two- and three-bedroom apartment homes, with available in-unit washer/dryers and balconies or patios. The community features two swimming pools, a clubhouse with a fitness center, a tot lot, a dog park, a community grilling/BBQ area and covered parking. The investors plan to renovate the property.

The acquisition of Five89 brings the Henley Tower 16 portfolio to over $200 million in assets.