(Read more on the multifamily market.)
LAS VEGAS-The 180-unit Courtney's Bay apartment development herehas changed hands for $27.7 million. Atherton-Newport, a NewportBeach, CA-based investment company, sold the asset to RW Selby, aLos Angeles-based multifamily investment firm.
Built in 2001 and recently rebranded as Bacarra Apartment Homes,Courtney's Bay is located just east of Las Vegas Boulevard andsouth of Interstate 215 in the Silverado Ranch area, which recentlybenefited from a new off ramp from I-15. The gated community offersone-, two- and three-bedroom apartment homes and has a tentativecondominium map on it, though there are no current plans forconversion
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