Argosy Real Estate Partners has exited its investment in Jade Apartments, a six-story, 287-unit class-A multifamily development project with 1,400 square feet of ground floor retail located in Las Vegas. Jade Apartments was sold to a private real estate investment firm.
The sales price was not disclosed.
In September 2018, Argosy partnered with Fore Property Co., a vertically integrated real estate organization, to acquire the six-acre land parcel for the project. The project was completed in July 2021 was approximately 90-percent leased at the time of sale. Jade Apartments represents Argosy’s second investment, alongside Fore following Lotus, a 295-unit multifamily development in Las Vegas that was sold in 2018.
Jade Apartments is located immediately west of Interstate 15 and the Las Vegas Strip, which is home to the area’s upscale casino resorts, dining and retail destinations, famous nightlife attractions, and top employers. The property includes a mix of
