News

Coldwell Banker Commercial represented the buyer in the acquisition of Silver Creek Apartments, a 224-unit multifamily property in Las Vegas. The property sold for $35 million.

Tom Naseef, CCIM, and Garry Cuff, two commercial real estate professionals with Coldwell Banker Commercial Premier, represented the buyer, a Southern California based investment firm, in the transaction. The property, built in 2002 consisting of a mix of one-, two-, and three-bedroom units, is located at 6170 Boulder Highway in the Southeast area of the valley.

“This was an off-market sale that was generated by our relationships with both the buyer and the seller,” said Naseef. “The property is operated as a rent restricted apartment community providing affordable housing in Las Vegas.”

Las Vegas continues its run as one of the nation’s fastest-growing markets during the pandemic fueling demand for housing.

“Investors and lenders have become more comfortable with the long-term outlook as quarterly apartment sales volume recently eclipsed $1 billion for only the third time in Las Vegas’ history,” said Naseef.

About Coldwell Banker Commercial Affiliates
Coldwell Banker Commercial Premier is the local affiliate of Coldwell Banker Commercial® and provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition, and disposition of all property types. Since 1906, the Coldwell Banker Commercial brand has been a premier provider of real estate, recognized globally as a company that puts the client first while delivering individual, distinctly different service. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com.