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Wilshire Unlimited Sells Intrigue Apartments In Las Vegas For $33.5M With NewPoint Real Estate Capital As Lender

4600 Vegas Drive
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This MultiFamily property located in NV was sold for $33,500,000 3 months ago.

Wilshire Unlimited has successfully sold the Intrigue Apartments, a 193-unit multifamily property located at 4600 Vegas Drive in Las Vegas. The property, previously known as Andiamo Apartments, was acquired by a family trust for a total sale price of $33.5 million. The transaction included a $17.5 million Fannie Mae loan arranged by NewPoint Real Estate Capital. The Intrigue Apartments feature one and two-bedroom units with a range of amenities, catering to the needs of its residents. This sale reflects a decline in multifamily investment activity in Las Vegas, as transactions in the first half of 2023 only accounted for 13% of the figures seen in 2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $33,500,000
  • Units: 193
  • Price Per Unit: $173,575
  • Seller: Wilshire Unlimited - Kenny Ngo
  • Lender: NewPoint Real Estate Capital - David Bleiweiss

The sale of the Intrigue Apartments was facilitated by Kenny Ngo of Wilshire Unlimited, representing the seller, and David Bleiweiss of NewPoint Real Estate Capital, who arranged the loan for the transaction. Their expertise and involvement were instrumental in the successful completion of this deal, showcasing their commitment to providing exceptional real estate services in the Las Vegas market.

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Deals
  • Location
    4600 Vegas Drive4600 Vegas Drive
  • Sale Price
    $33,500,000$33,500,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    1 Lender1 Lender

NewPoint Real Estate Capital

NewPoint Real Estate Capital

Lender
Deals16
Volume$ 18.5B

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Deal Summary

SALE IMAGE: Kenny Ngo & David Bleiweiss DATE: 11/15/2023 ADDRESS: 4600 Vegas Drive MARKET: Las Vegas ASSET TYPE: Multifamily SELLER: Wilshire Unlimited - Kenny Ngo LENDER: NewPoint Real Estate Capital (@Newpoint_REC) - David Bleiweiss SALE PRICE: $33,500,000 UNITS: 193 ~ PPU: $173,575 NOTE: Wilshire Unlimited sold Las Vegas' 193-unit Intrigue Apartments to a family trust for $33.5 million, including a $17.5 million Fannie Mae loan arranged by NewPoint Real Estate Capital. The property, formerly Andiamo Apartments, features one and two-bedroom units with amenities, and the sale reflects a downturn in Las Vegas multifamily investment, with transactions totaling only 13% of 2022 figures in the first half of 2023.

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