• Asset

    Las Vegas Asset Changes Hands

    Emerald Park Apartment Homes Westland Emerald Park LLC acquired Emerald Park Apartment Homes, a 300-unit community in Las Vegas, for $18.5 million. The company paid $95 per square foot, a 5.5 percent cap rate. Berkadia marketed the property on behalf of the seller, Emerald Partners LP. The firm also recently completed the sale of Metro 102 Apartments, an affordable apartment community in Southern California. Located at 4545 Pennwood Ave., the property sits on 12 acres and is five minutes north of the construction site for the Las Vegas Raiders’ new NFL stadium. Interstate 15 is also easily accessible. Built in 1978, the asset features studio, one- and two-bedroom units at…

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