(To read more on the multifamily market, click here.)
LAS VEGAS-JB Matteson Institutional Capital Partners LLC onThursday acquired Entrata di Paradiso Apartments, a 480-unitdevelopment here for $55 million. Wachovia provided the acquisitionfinancing. The seller was Hamilton Zanze & Co.
The complex is located at 2701 N. Rainbow Blvd. which isapproximately eight miles northeast of Downtown Las Vegas. Theclubhouse was renovated by the seller. The purchase pricetranslates to $115,483 per unit; replacement is approximately$170,000 per unit.
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