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REAL ESTATE BRIEFS NOV. 20

CALV elects 2022 board

The Commercial Alliance Las Vegas (CALV) announced its newly elected officers and directors for 2022, with industry leader Angelina Scarcelli becoming president of the commercial real estate organization starting Jan. 1.

Scarcelli, a Certified Commercial Investment Member (CCIM) and certified property manager (CPM), is a senior portfolio manager of Colliers International in Las Vegas. She served as CALV’s president-elect in 2021 and has also been a CALV board member. Scarcelli has earned several industry awards and held leadership positions in other local organizations representing commercial real estate professionals, including the local chapter of IREM, the Institute of Real Estate Management.

Other newly elected members of the 2022 CALV board of directors include:

■ President-elect Natalie Allred, CPM and accredited residential manager (ARM), vice president of property management for American Nevada Co.

■ Treasurer Bridget Atterbom, certified negotiation expert (CNE), a commercial broker at Keller Williams Commercial.

■ Director Nolan Julseth-White, CCIM, managing director of SVN, The Equity Group, in Las Vegas.

■ Director Jennifer Weinberg, a residential and business broker with BHHS Nevada Properties in Las Vegas.

CALV board members not up for re-election this year who will continue to serve include:

■ Director Wes Drown, CCIM, of RE/MAX Advantage in Henderson.

■ Director Andrew Levy, CCIM and accredited residential manager (ARM), of ERA Brokers Consolidated.

■ Immediate Past President Petra Latch, a member of the Appraisal Institute (MAI) and the executive director of valuation and advisory at Cushman &Wakefield in Las Vegas.

The Commercial Alliance Las Vegas is the commercial real estate division of Las Vegas Realtors.

One of the largest organizations in Southern Nevada for commercial real estate professionals, it organizes and empowers the industry through education, networking, promoting professionalism and shaping public policy. Membership in CALV is open to Realtors and non-Realtors, alike. For more information, visit calv.org.

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Peloton names Las Vegas operations manager

Three years after opening Peloton’s Las Vegas office, operations manager Denny Peters has been promoted to associate principal of the growing firm. Peters previously served as community development engineer for the city of Reno.

“Denny has been the driving force behind the success of our Las Vegas office,” said Peloton Board Chairman and CEO Aric Head. “We appreciate his hard work at the helm of Peloton’s operations in one of the largest growth markets in the U.S.”

Hired by Peloton in 2016 as a senior project manager, Peters has more than 30 years’ experience in civil and environmental engineering with expertise in water resources and hydrology.

A professional hydrologist, his focus is on residential, commercial and industrial development, as well as public infrastructure.

Peters oversees a full range of services focusing on site selection, planning, zoning, feasibility studies and utility and infrastructure planning.

He has a comprehensive project management background and hands-on analysis and design experience on both public and private projects.

Peters holds a bachelor’s degree in civil engineering and a master’s degree in civil and environmental engineering from Cal Poly San Luis Obispo, California.

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Caridad Gardens Acquires SHARE Village 1

Caridad Gardens, a jobs program that uses gardening to reintegrate formerly homeless veterans back into the workforce, is resuming operations of SHARE Village 1, 1150 S. Las Vegas Blvd., following the sudden exit of the previous property manager.

“Caridad is working with the owner YSBM investments and Caridad’s social service agency partners to restore services and ensure a smooth transition so that no one is made homeless,” explained Merideth Spriggs, founder and Chief Kindness Officer of Caridad Gardens.

Spriggs has a proven track record of helping the homeless through hands-on, concierge-style services that deliver what clients need to get back on their feet. Real solutions through collaborative partnerships have cemented Spriggs’ reputation as a trusted homeless advocate and community leader.

For more information visit caridadcharity.com.

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Work begins on luxury apartments at The Gramercy

A new luxury apartment community, The Highline, broke ground at The Gramercy Las Vegas in Spring Valley. Lyon Living and LandSpire Group have come together to collaborate on The Highline, making it the first project they are bringing to Las Vegas Valley together.

Slated to open winter of 2023, The Highline is a luxury apartment community that will feature 294 apartment homes, including a mix of studios, one-, and two-bedroom units equipped with condo-grade appliances.

“As the economy and population of the Las Vegas area continues to grow, we wanted to bring an innovative and exciting new property to the area, that will offer residents more than just a place to live, but a place to dine, shop, explore and network,” said Pete Zak, managing partner of Lyon Living.

The Highline will offer residents exclusive access to the rooftop lounge area, a resort-style pool and spa, clubhouse, co-working space, beer garden and elite fitness facility.

Future plans include 71 for-sale town homes and 25,000 square feet of retail space, expanding upon the dozens of dining, shopping and office spaces already established at The Gramercy.

The community is designed to be both family-friendly and pet-friendly with a state-of-the-art pet spa and dog park.

Rockwood Construction has begun construction on the project site and expects a 26-month timeline. The Highline is designed by award-winning California-based firms Studio One Eleven and Architects Orange.

For more information about the property and future plans, visit livethehighline.com.

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Summer Place Apartments for $12.18M

Jason Dittenber; Devin Lee, CCIM; Robin Willett; and Jerad Roberts of Northcap Commercial have announced the recent sale of the Summer Place Apartments for $12,185,000 ($108,795/unit). This sale consisted of 112 units built in 1979 located at 27 N. 28th St. in downtown Las Vegas. This transaction closed on Nov. 5. Northcap Commercial represented the seller, Ramar Property LLC.

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Lyric Apartments sells for $135.2M

Newmark announced that it has arranged the $135.2 million sale ($359,575 per unit) and $91.4 million financing of Lyric Apartments, a luxury, 376-unit multifamily community in the high-growth area of Silverado Ranch. Lyric traded from The Bascom Group — a private equity firm that has completed over $19.1 billion in multifamily value-add transactions since 1996 — to Starlight U.S. Residential Fund, a fund focused on the acquisition, ownership and operation of multifamily properties in the U.S. The property was 99 percent occupied at the time of the sale.

Newmark Executive Managing Director Curt Allsop and Managing Director Angela Bates along with Executive Managing Director Doug Schuster and Director Vittal Ram represented the seller in the transaction.

Newmark Executive Managing Director Matthew Williams and Assistant Vice President James Maynard of the firm’s debt and structured finance team helped secure the acquisition financing from Sumitomo Mitsui Banking Corp.

D.R. Horton’s Michael P. Cuddy retires

The Southern Nevada Home Builders Association has announced that D.R. Horton Engineering Manager Michael P. Cuddy has retired.

He started his career as a civil engineer in 1986 with Engineers and Surveyors Inc. (ESI) and then moved on to Las Vegas Valley Water District. Throughout the 1990s he expanded his engineering knowledge by working at LR Nelson, CCRFCD and PBS&J.

Cuddy spent some of his PBS&J years on Capitol Improvement Programs at the city of North Las Vegas and Nevada Energy. In 2003, he joined the team at D.R. Horton as forward planning director. A few years prior to the housing bubble burst, Cuddy started his own consulting firm. For seven years, he served as a private consultant to several builders in Las Vegas, as well as to his former employer, D.R. Horton. In 2013, he returned to D.R. Horton.

“Michael has been an integral part of D.R. Horton. His contributions will always be valued and remembered. His hard work, commitment and dedication are worthy of admiration. “Cuddy” (as his teammates call him) will be greatly missed by everyone who has had the privilege to work with him. Filling his shoes will be an impossible task,” a SNHBA press release said.

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