LaSalle Investment Management Acquires Multifamily Property In Las Vegas For $155.6M
SOLD
$155,600,000
Nevada
See Similar DealsMultiFamily748 SF
Sold 10/20/2021
SOLD
LaSalle Investment Management Acquires Multifamily Property In Las Vegas For $155.6M
6355 S Riley St, Las Vegas, NV, USA
See Similar DealsMultiFamily748 SF
Sold 10/20/2021
Summary
NEVADA
Asset Type:MultiFamily
Price Per Square Foot:$208,021
Total Square Footage:748 SF
Transaction Type:Sale
The multifamily property located at 6355 South Riley St. in Las Vegas, Nevada has been sold. The transaction took place on October 20, 2021. The property, consisting of 456 units, was sold by The Calida Group to LaSalle Investment Management for a price of $155,600,000. This corresponds to an average price per unit of $341,228.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $155,600,000
- Number of Units: 456
- Price per Unit: $341,228
- Address: 6355 South Riley St., Las Vegas, Nevada
- Market: Las Vegas, Nevada
The sale of this multifamily property was facilitated by brokers John Cunningham and Charles Steele from JLL Capital Markets.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,298,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$552,813.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$737,623.38
Annual Debt Service$8,851,480.60
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