Las Vegas apartment complex sells for more than $120M

A Las Vegas apartment complex packed with amenities has been sold for more than $120 million.

Authentic Capital Group, a real estate investment firm in Malibu, California, acquired a 384-unit rental complex in the southwest valley last month for nearly $121.5 million, Clark County records indicate.

The rental property, Elysian at Post, is at the northeast corner of Fort Apache and Post roads, across from Southern Hills Hospital.

It boasts poolside cabanas, outdoor basketball and volleyball courts, billiards and shuffleboard, massage and tanning rooms, a game lounge with arcade machines, and electric-car charging stations, according to its website.

All told, the sales price amounted to $316,341 per unit. By comparison, in Southern Nevada’s apartment market overall, the average sales price per unit in the third quarter was $246,305, according to brokerage firm Colliers International.

Authentic did not respond to requests for comment.

Clark County commissioners approved plans for the apartment complex, by developer The Calida Group, in summer 2020.

Records show that it was built in 2023.

Calida co-founder Doug Eisner confirmed this week that the property changed hands, and he estimated that the occupancy rate was in the 90 percent range at the time it sold.

Las Vegas-based Calida is among the biggest apartment developers in Southern Nevada. Its current projects underway include a luxury complex next to the Durango hotel-casino in the southwest valley.

Calida broke ground on the four-story, 397-unit project this year.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.