12/4/2007

Marcus & Millichap sell Las Vegas gated community for $18.4M

by

Homes in Town

Copperfield Investment and Development Co. has purchased Town, a newly built rental community in Las Vegas, Nev., for $18.4 million from Plaster Development, Inc., a subsidiary of Signature Homes.

Michael Shaffner and Michael LaBar of Marcus & Millichap represented the seller in the transaction.

Located on 1721 Crystall Ann Ave., the multi-family property contains 92 detached three-story units that were built in 2007. Town contains 47 one-bedroom and 45 three-bedroom units and sold for $200,000 per unit.

Shaffner and LaBar began marketing the property in October with an asking price of $19.3 million.

Address: 1721 Crystal Ann Ave., Las Vegas, Nev.

Size: 92 units/138,143 square feet

Built: 2007

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Filed Under: Multi-Family

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