81°F
weather icon Partly Cloudy

San Diego company buys Henderson rental complex

A San Diego company has picked up another Las Vegas Valley rental complex.

Sunroad Enterprises acquired The Townhomes at Horizon Ridge, a 296-unit complex at 540 W. Horizon Ridge Parkway in Henderson, property records show.

The $64.1 million sale, by Seattle-based Security Properties and New York Life Insurance Co., closed last month.

Listing brokers with ARA Newmark announced the deal.

The property spans 26 acres, and its units are all townhouses with attached two-car garages, according to a marketing brochure, a rare amenity for a valley rental complex.

The sales price amounts to about $216,550 per unit. By comparison, investors have paid an average of around $144,200 per unit for Southern Nevada apartment complexes this year, according to brokerage firm Colliers International’s second-quarter report.

Founded in 1977, Sunroad also acquired the 320-unit Avery Park complex in Las Vegas in December for more than $36 million. The property, at 2200 N. Torrey Pines Drive, is now called The Sanctuary.

Efforts to speak with Sunroad about its latest purchase were unsuccessful Thursday.

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

Don't miss the big stories. Like us on Facebook.
THE LATEST