Stonepeak Partners Acquires 168-Unit Senior Housing Property In Las Vegas For $83.13M

The property involved in the transaction is a senior housing facility located at 490 South Hualapai Way in Las Vegas, NV. This asset consists of 168 units, which were developed recently, specifically two years ago, and offers services for independent living, assisted living, and memory care. The sale price for this property was $83,130,000, translating to approximately $494,821 per unit.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $83,130,000
• Units: 168
• Price Per Unit: $494,821
• Buyer: Stonepeak Partners
• Seller: Confluent Development & Ovation Group
• Broker: JLL

The deal featured key representatives from the involved parties, with Stonepeak Partners as the buyer and Confluent Development & Ovation Group acting as the seller. The brokerage representation was handled by JLL, facilitating the transaction of the seniors-housing property, which showcases a venture between the seller entities in its development.