Las Vegas Multifamily Market Shows Continued Strength
LAS VEGAS, NV, July 1, 2021
In one of the larger multifamily housing deals this year, the sale of “Sunset Palms Apartments” at 900 Doolittle Ave was completed on June 30th, 2021. The sales price was $8M. The 56-unit complex with pool is situated on 3 acres near Lake Mead and H St and was built in 1999. John Brassner, broker and owner of Belltree LLC, represented the buyer, Golden Bee Properties in the transaction. The seller was unrepresented.
“We are pleased to provide well-managed and affordable housing to Southern Nevada. This is our first multifamily purchase in the area and we are on a path to invest further in Southern Nevada,” said David Berneman, CEO of Golden Bee Properties. John Brassner explains, “This sale is one of several large multifamily transactions already this year proving the rental market and investor activity is robust in Southern Nevada.” Brassner continued, “Although this transaction was a bit complicated with approvals needed from the Nevada Housing Department and negotiations with the City of Las Vegas, working with David and his team of professionals to make it happen was a pleasure.”
The National Association of Realtors® identified Las Vegas as one of the top 10 commercial real estate markets for 2021.
About Belltree LLC
Belltree LLC is a full-service real estate and business brokerage firm in Las Vegas, Nevada founded in 2018. The company has experience in all commercial real property types, residential real estate, and the sale of privately-held businesses. The broker and owner of Belltree LLC, John Brassner, has been licensed in Nevada to sell real estate since 2004 and to broker the sale of businesses since 2007. Nevada license #B.0144719.LLC
About Golden Bee Properties
Founded in 2011, Golden Bee Properties is a full-service real estate asset management firm that invests in workforce housing across Southern California and Southern Nevada. The firm invests in areas with strong job growth and specializes in working with housing assistance providers to meet the needs of today’s urban workforce. With approximately $150 million of real estate currently under management along with the experience of another $100 million in assets that have gone full cycle, Golden Bee Properties has the breadth of experience required to work with global investors in placing their capital in some of the United States’ most dynamic metropolitan areas. Web Site: goldenbeeproperties.com