Compass Acquisition Partners has acquired Sandpiper Apartments in Las Vegas from Apple Management for $66 million. The property has 488 apartment units over 61 two-story buildings.

Compass plans to invest $7.5 million in an extensive program of capital improvements.  Currently, units are in the process of being renovated.  Compass is expanding the scope of the updates to include modernized kitchens with stainless steel appliances, refreshed cabinets and stone counters and wood-style plank flooring throughout.

Las Vegas is a target market for Compass, which has a portfolio of approximately $2 billion of multifamily and retail assets located in select markets along the West Coast, Colorado and Wyoming.

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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
West