Tower 16 Capital Partners has acquired Five89Apartments, a 312-unit apartment complex in Las Vegas, for $32.5million. The property is part of the firm's aggressive growthstrategy in the Las Vegas market. In the last 18 months, it hasacquired 2,300 apartment units in the city.
Located at 4801 E. Sahara Avenue, the property has two- andthree bedroom apartments and features two swimming pools and afitness center. Tower 16 plans to invest $4 million to upgrade theproperty.
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