Investment firm buys Las Vegas apartment complex for $57.75M
A Southern California investment firm has picked up a suburban Las Vegas apartment complex.
Kennedy Wilson announced Thursday that it acquired the 480-unit Entrata di Paradiso complex in the northwest valley for $57.75 million and that it plans to spend another $4 million on upgrades.
The Beverly Hills, California-based firm said it bought the property with a joint-venture partner, though it did not disclose the partner’s name.
The 19.7-acre complex at 2701 N. Rainbow Blvd. was built in 1990 and is 94 percent occupied, according to Kennedy Wilson.
Clark County records show the new owners bought Entrata di Paradiso from lenders who foreclosed on the complex in 2012.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.
