National real estate investor and operator Waterton has acquired a two-property multifamily portfolio in the Centennial Hills master-planned community in Nevada.
Situated 15 minutes northwest of downtown Las Vegas, the two properties in the portfolio consist of the 312-unit Ely at Centennial Hills and the 312-unit Pointe at Centennial Hills. The properties will be rebranded as one community, The Paisley & Pointe at Centennial Hills.
“The multifamily market and the demand for quality, well-located housing in Las Vegas has remained strong,” said Kevin Ibasco, vice president, acquisitions at Waterton. “As travel, casinos, hotels and conventions have started to ramp back up, Las Vegas has seen tremendous growth over the past year, and we anticipate demand to continue, given the market’s relative affordability, low tax burden and business-friendly environment.”
Following the acquisition, Waterton’s total unit count in the metro area has increased to m
