Landlords are writing hefty checks for rental properties, paying prices that sellers probably only dreamed of a few years ago. Overall in Southern Nevada, investors paid an average of $110,111 per unit for apartment complexes this year by the third quarter, up 53 percent from 2015, according to brokerage firm Colliers International.
Eli Segall’s Real Estate Insider column appears Saturdays in the Business section.
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With a burst of billion-dollar deals this year, the Strip’s real estate market has heated up again. But investors didn’t buy megaresorts, the bedrock of the local economy. They bought malls.