Interwest Acquires Vegas Property for $21M
WGH Partners has sold The Lennox, a 100-unit luxury community in Las Vegas, to Interwest Capital Group for $20.6 million. RSE Capital Partners provided preferred equity capital for the deal, and Capital One originated $12.6 million in acquisition financing through Freddie Mac, according to Yardi Matrix. The fixed-rate loan matures in 2029.
Located at 430 E. Cactus Ave. in the city’s Paradise Valley South submarket, the community is situated within 10 miles of The Strip and 7 miles south of McCarran International Airport. Several hotels, shops and dining options are in the nearby area. The area surrounding the property is limited in terms of supply, with fewer than 1,500 units within a mile of the community. To read the complete press release please visit the link here.