X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

San Diego-based Sunroad Enterprises has recently gone on an acquisition spree in Nevada and Arizona. The firm has acquired Adobe Ranch Apartments, a 234-unit apartment complex located in Henderson, Nevada; Marina Village Apartments in Sparks, Nevada; San Portella, a 308-unit apartment complex located in Tempe, Arizona; and Horizon Ridge, a 296-unit apartment complex located in Henderson, Nevada. These acquisitions are a follow-up to several multifamily acquisitions throughout the West Coast in the last several years.

“Over the past few years, we have successfully brought the Ariva and Vive apartment communities in San Diego’s Kearny Mesa area to market and acquired several multifamily communities in Nevada and Arizona,” Dan Feldman, VP of Sunroad Enterprises, tells GlobeSt.com. “To build upon this momentum, capitalize on current renter demand in these markets and continue growing our Multifamily Division, we have acquired several properties with tremendous potential in the past few months in Arizona, Nevada and Washington.”

While the firm purchases assets throughout the West Coast, it has shown a recent focus on Nevada and Arizona markets, thanks to recent economic growth and improving fundamentals. “Both the Las Vegas and Phoenix markets are rapidly growing, making each attractive to us for multifamily investments as businesses in these areas expand and new businesses open, young families and professionals begin to look for housing in the region, creating strong renter demand,” says Feldman. “These markets create ideal opportunities to modernize older apartment properties into contemporary units that help meet renter demand and support growing regional employment centers.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.