Continental Realty Advisors (CRA), a Denver-based owner of multifamily communities nationwide, and San Francisco–based real estate investment firm The Roxborough Group have sold a three-community portfolio comprised of 1,194 units in Las Vegas for $137.5 million.
The transaction was made through an affiliate of Roxborough Fund I.
The Las Vegas portfolio includes the 440-unit Stonegate Apartments constructed in 1990 to 1991, the 402-unit Loma Vista Apartments constructed in 1998, and 352-unit Viridian Palms (formerly Stonegate West) constructed in 1990.
The companies invested more than $5 million into repairs and improvements for the assets.
“The business plan hinged on stabilizing what was p
