Sold.
The Sauter Multifamily Advisors at NAI Vegas was exclusively retained to market and sale the Mark 1 Luxury Apartments, a highly desirable 15-story mid-rise rental community in the heart of Las Vegas.
Mark 1, a 113 unit property built in 1975 was negotiated and closed for $15,870,000. This Value Add Opportunity included partially renovated units, 5% cap rate, spacious studios along with one and two bedroom apartment homes with upgraded finishes, an Olympic size pool, underground parking, secured access, business center and convenient downtown location.
The acquisition of Mark 1 by Strategic Realty Holdings LLC was a fantastic opportunity that Patrick Sauter, Managing Partner of NAI Vegas and Art Carll-Tangora, Senior Multifamily Partner to advise both the buyer and the seller in a successful closing.
NAI Vegas
NAI Vegas is the local representative of NAI Global, the premier international real estate services organization, with over 400 offices in over 55 counties.
Founded in 1988, NAI Vegas has proven itself to be the leading real estate brokerage in Las Vegas. Principals of NAI Vegas have been involved in investment and commercial real estate in Las Vegas since 1972 and have brokered, developed over $5 billion in transactions consisting of multifamily units, retail centers, office buildings and land.
Our strength is international and our passion and focus is local.