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California investors snag Las Vegas apartment complex for $63M

Northern California investors have picked up a Las Vegas apartment complex for a hefty sum.

Green Leaf Capital Partners bought the 360-unit Volare, located on Dean Martin Drive just south of Cactus Avenue, according to an announcement Friday from listing brokerage Jones Lang LaSalle.

JLL did not announce the sales price, but Clark County records show Volare sold for $63 million.

That amounts to $175,000 per unit. Last year, apartment investors paid an average of $96,720 per unit in Southern Nevada, according to brokerage Colliers International.

Green Leaf bought the complex from Fore Property Co., The Strand Corp. and DG Development Corp., according to the announcement.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

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