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Panattoni Development named Developer of the Year

Panattoni Development Co. has been recognized by the Southern Nevada Chapter of the Society of Industrial and Office Realtors as the 2020 People’s Choice Developer of the Year. This is the company’s fourth consecutive People’s Choice Developer of the Year recognition.

SIOR is the leading association for commercial and industrial real estate professionals. The SIOR designates the most capable and experienced brokerage practitioners in any market. The SIOR designation is recognized by corporate real estate executives, commercial real estate brokers, agents, lenders and other real estate professionals. The Southern Nevada annual awards are presented to recognize outstanding companies and individuals in the categories of People’s Choice Broker of the Year, People’s Choice Developer of the Year, Top Producer and Most Cooperative Transactions.

Panattoni Development Co. Inc., founded in 1986, is one of the largest privately held, full-service, development companies in the world. Panattoni operates from 28 offices in the United States, Canada and Europe. Since inception, Panattoni has developed more than 376 million square feet of space including more than 125 million square feet of build-to-suit projects. For more information visit, panattoni.com.


Camino Verde Group buys Kentucky apartment complex

Las Vegas-based Camino Verde Group, in association with NV2 Holdings of Austin, Texas, has acquired the Aspen Meadow apartment community in Hopkinsville, Kentucky. This is Camino Verde’s first property outside the West.

“The purchase further defines Camino Verde Group’s multifamily investment strategy focused on acquiring quality assets in markets with strong fundamentals,” said Kevin Romney of Henderson, chief investment officer for Camino Verde Group.

“Specifically, the acquisition is Camino Verde’s first east of the Mississippi River and further diversifies its existing multifamily portfolio across the country. CVG plans to expand its footprint in the East over the coming years in markets with strong market fundamentals and overall economic growth.”

Aspen Meadow is a 258-unit multifamily property nestled in Hopkinsville, part of the Clarksville, Tennessee Metropolitan Statistical Area. The property at 1050 Denzil Drive is minutes away from the Oak Grove Racing, Gaming &Hotel and the Fort Campbell Army Base. Fort Campbell is home to the 101st Airborne Division and is the fourth-largest Army base and seventh-largest in the Department of Defense.

Constructed in phases from 1979 to 1989, Aspen Meadow offers units with two beds and one bath or two beds and two baths housed in 31 two-story town homes and two-story eight-plexes. The community is situated in a park-like setting. Units range in size from 860 square feet to 1,350 square feet, with rent prices starting around $725 per month.

Currently, 87 percent of the Aspen Meadow’s units have been remodeled. Remodeled units offer new appliances, such as washers and dryers, ranges, dishwashers, built-in microwaves and refrigerators.

Camino Verde will continue renovation of the remaining 13 percent of units with the same appliances and finishes in each unit.

Aspen Meadow features an indoor swimming pool, fitness center, playgrounds, basketball court and picnic area. The complex is pet friendly, allowing pets with an additional deposit and housing a fenced-in pet play area.

Camino Verde Group LLC is a Las Vegas-based, privately held real estate investment, development and asset management company with its sole focus on multifamily and mixed-use real estate.

NV2 Holdings, LLC is a diversified real estate investment firm whose principals have acquired more than 30 apartment communities with more than 5,000 units in Texas, Michigan and Georgia totaling over $400 million in assets.

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Several reasons why HOA would delay in opening entry gate

The fact that the gate is still not repaired does not surprise me. There could be many different reasons from the availability of parts or that there are still unresolved issues between the insurance companies that represent the association and that which represents the ownership of the car. What the board should be doing is to at least inform the homeowners of why there is an ongoing delay.

HOA president says owner’s behavior is harassment

Based upon the information in your email, it’s time for the board to contact their legal counsel to send a letter to this homeowner Nevada Revised Statutes 116.31184 pertains to threats, harassment and other conduct that is prohibited.

Animal Control needs to be notified of dog attacks

Dogs attacks are very serious. The first step that you need to do is to contact Animal Control right away. Do not delay any further. If this is a dangerous dog and it appears from your email to me that the dog is dangerous, only Animal Control can have the most immediate impact by removing the dog.

Today’s Realtor needs to know how to negotiate multiple offers

This is a good market, but it’s not magic. You still need to market your home and present it in the best possible way to ensure you will sell it for the best possible price. The goal is to have maximum exposure in the shortest amount of time, to capitalize on the market rush and its fickleness. In real estate, everything can change in a day.

HOA will likely have to pay to repair perimeter wall

Q: We noticed the outside of our wall, which is on a corner lot, to be cracked. On further inspection, the wall moves from above. We found you in a Google search. The first search to pop up was an article dated Jan. 31, 2009: “HOA bill to address maintenance of Security Walls within communities.” The home was built in 2004. We bought the home in 2015. Was a bill passed that would make the homeowners association responsible for the wall?

New state laws affect HOA fees and water use

This week, I have invited local attorneys Gregory P. Kerr and Michael T. Schulman of Wolf, Rifkin, Shapiro, Schulman Rabkin to explain new laws that will affect Las Vegas communities and the state’s homeowners associations. This the last column in a three-part series that takes an in-depth look at the new laws.

Poorly conceived SB 186 will cost unit owners money

SB 186 is awful. Truly, it is the worst bill affecting common-interest communities the industry has seen in a while. This legislation will cost unit owners money. It is a bill that is poorly conceived and disregards mutual interests that are shared by both unit owners and associations.

An indepth look at new state laws that affect HOAs

This week, I have invited local attorneys Gregory P. Kerr and Michael T. Schulman of Wolf, Rifkin, Shapiro, Schulman Rabkin to explain new laws that will affect Las Vegas communities and the state’s homeowners associations. This is a three-part series that takes an in-depth look at the new laws. This week, we will cover Senate Bill 72. Next week we will address Senate Bill 186.

HOA board candidates must be homeowners in good standing

Under NRS 116.31034 (4a and 4b), each candidate is to make a good faith effort to disclose any financial, business, professional or personal relationship or interest that would appear to be a potential conflict of interest if the candidate was elected to the board. In addition, the candidate is to disclose whether he or she is a member of good standings. The law defines a member of good standings to be one that does not owe any assessment and or construction penalties.