Redbridge Capital sells Vegas opportunity zone community

Redbridge Capital has sold Echo 1055, a recently completed 215-unit student housing community in Las Vegas, to a joint venture between The Arden Group and GFO Cos. for $64 million, according to Mulit-Housing News.

The seller broke ground on the development in January 2018. The asset is located within one of Clark County’s 45 designated opportunity zones.

Located at 1055 E. Tropicana Ave., the five-story building is across the street from the University of Nevada, Las Vegas, campus, approximately two miles from the Strip. The property is close to McCarran International Airport.

The community has studio, two-, three- and four-bedroom units, with floor plans ranging from 420 square feet to 1,224 square feet.