LAS VEGAS, NV – San Diego-based, Tower 16 Capital Partners has sold a three-property portfolio in Las Vegas, NV for $182 million. The multifamily portfolio was purchased by an undisclosed buyer.
The multifamily portfolio comprises the 540-unit, Accent on Rainbow at 6666 W. Washington Ave., the 313-unit, Accent on Decatur at 2950 S. Decatur Blvd. and the 312-unit, Accent on Sahara at 4801 E. Sahara Ave. Each of the multifamily communities feature at least two pools, a gym, a clubhouse and outdoor amenities. Accent on Sahara additionally features a kids' play area and a dog park.
Tower 16 assembled the 1,165-unit portfolio two and a half years ago; purchasing the properties for $112 million. The company has since invested $10.3 million in repositioning efforts at the properties. The firm instituted renovations across each of the assets, including upgraded leasing offices, outdoor amenity areas and interior renovations to more than 40% of the units.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
