Berkadia Negotiates $24.1M Multifamily Property Sale in Las Vegas, Nevada
LAS VEGAS, NEVADA – June 27, 2024 – Berkadia announced today the sale of Prosper 89, a brand-new 89-unit, garden-style multifamily property in Las Vegas, Nevada. Senior Director Jared Glover of Berkadia Las Vegas led the transaction on behalf of the seller, Nevada-based Turtle Bay 89 LLC.
Prosper 89 sold for $24.1 million to California-based Benedict Canyon Equities, Inc on June 26. The sales price reflects a per-unit price of $270,787 or $268.07 per square foot.
“The developers of Prosper 89 delivered a fully amenitized Class A boutique property with high-end finishes in a major growth pocket,” said Glover. “The Southwest area of Las Vegas recently ranked as the second fastest growing jurisdiction in the U.S., growing over 45 percent in the past five years. Prosper 89 presented the buyers with a rare find, as most newly built multifamily assets in Las Vegas are over 100-units.”
Located at 10750 El Camino Road and situated between the Southern Highlands and Mountain’s Edge Master Plan, Prosper 89 offers residents quick access to walking trails and an abundance of retail and dining options. Completed in 2023 and built with the highest quality craftmanship in mind, the community features 89 units with an attractive mix of one (40 percent) and two-bedroom units (60 percent) and best-in-class finishes including: private garages, pool, custom curated clubhouse with business center, fitness center, and open grass areas.
Berkadia Arranges $24.1M Sale of Prosper 89 Multifamily Asset in Las Vegas | RE Business Online