Haven Realty Capital makes first acquisition in Las Vegas BTR sector

Haven Realty Capital, in partnership with funds managed by an affiliate of Apollo Global Management, has closed the first phase of a $22.8 million acquisition of a build-to-rent (BTR) townhome community now under construction in the Las Vegas suburb of Summerlin.

The Haven-led joint venture will close on the remaining homes in phases over the next 12 months.

Thrive at Peace Way is being developed by the seller, a joint venture of Edward Homes and Avision Development Partners, on a five-acre site at 10132 Serenity Star Way, between Flamingo Road and Tropicana Avenue. At build-out in the fall of 2022, Thrive at Peace Way will feature 12 residential buildings housing 60 two-story mid-rise townhomes offering three-bedroom, two-and-a-half-bathroom floorplans ranging  from 1,541 square feet to 1,789 square feet. Each townhome will have an attached two-car garage and walk-out deck. Common area amenities will include a resort-style pool and cabana.

Haven has successful