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Tower 16, a new real estate investment from industry veterans Mike Farley and Tyler Pruett, has partnered with Henley USA to take advantage of the tremendous growth in the Las Vegas market. The partnership is buying value-add multifamily assets and rebranding them as Altura after a major renovation. The joint venture has acquired its first property in the market, the 228-unit Winsome West Apartments, which will be rebranded as Altura on Duneville. The buy is the first of many more to come—they plan to amass a portfolio of 1,000 to 1,500 units in the next 12 months. We sat down with Farley and Pruett to talk about the joint venture and why Las Vegas is seeing so much buzz.

GlobeSt.com: Tell me about your investment strategy in Las Vegas and your partnership with Henley USA.

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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.

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