Waterton Re-Enters the Las Vegas Multifamily Market

Mirasol

Chicago-based national investor Waterton has re-entered the Las Vegas multifamily market after two years. The firm has acquired a two-property, 720-unit apartment portfolio, its first acquisition after exiting the market two years ago. Waterton sees opportunity in the Las Vegas market and strong growth potential late in the cycle.

“Las Vegas is attracting job growth and population growth at incredibly strong levels,” Peter Kuzma, VP of acquisitions of Waterton, tells GlobeSt.com. “The market is a late cycle demand generator and with the beneficial tax structure, should continue to attract and retain households over the near term.  While Las Vegas has been, and still very much is, a gaming and hospitality driven market, the market is slowly diversifying, creating defensive strength for future downturns.”