(Read more on the multifamily market.)
LAS VEGAS-The Sunrise Meadows apartment complex here recentlychanged hands for nearly $103 million. The 896-unit, 28-buildingcomplex sits on 20 acres off W. Sahara Ave. in the Lakes community,10 miles west of the Las Vegas Strip.
The new ownership is a tenancy-in-common group arranged byTerrence Bean of Bean Investment Real Estate, a Portland, OR-basedprivate investment and brokerage company that specializes inplacing private equity in institutional quality multifamilyproperties. The TIC is comprised of 25 individual investors whosestakes in the property range from 1.3% to 16.2%.
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