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The Palms Apartments in Las Vegas Sold for $33 Million

FOR IMMEDIATE RELEASE

Las Vegas (May 18, 2022) – Coldwell Banker Commercial represented the buyer in the purchase of The Palms Apartments, located at 713 E. Sahara Ave. in Las Vegas in a transaction valued at $33 million.

Thomas Dean, a commercial real estate professional with Coldwell Banker Commercial Premier, represented the buyer in the transaction.

The two-story, 200-unit garden-style apartment complex has units that range between 700 to 1,500 square feet, one to three bedrooms and one to two bathrooms.

“This older, vintage property provided my client with a great value-add opportunity in a very hot market. They have an extensive Capex plan and are excited to add this to their Las Vegas portfolio,” said Dean.

About Coldwell Banker Commercial Affiliates

Coldwell Banker Commercial Premier is the local affiliate of Coldwell Banker Commercial® and provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition, and disposition of all property types. Since 1906, the Coldwell Banker Commercial brand has been a premier provider of real estate, recognized globally as a company that puts the client first while delivering individual, distinctly different service. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com.

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