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JLL completes sale of 524-unit Solis at Flamingo in east Las Vegas
LAS VEGAS, June 25, 2018 – JLL's Capital Markets experts today announced they completed the sale of Solis at Flamingo, a 524-unit luxury apartment community at 3275 E. Flamingo Rd. in Las Vegas, on behalf of Los Angeles-based TruAmerica Multifamily.
Managing Directors Charles Steele and John Cunningham represented the seller.
"Solis at Flamingo is a well-maintained asset with additional upside opportunity in a submarket which is both surrounded by commercial development and insulated from new multifamily competition. It was therefore attractive to a broad range of buyers with interest in the expanding Las Vegas economy," said Steele.
Built in two phases in 1988 and 1992, Solis at Flamingo has undergone a recent major renovation and deferred maintenance program. Upgrades to the community's amenities include a renovation of the fitness center, pool and basketball court, new lighting and signage, roof repairs and the installation of a pet park and outdoor kitchens.
The community is less than six miles from the site of Las Vegas Stadium, the to-be-built home of the NFL's Las Vegas Raiders and UNLV Rebels football teams and less than five miles from The Strip and Union Village, the largest healthcare building project in the U.S. and the world's first integrated health village with a world class hospital system and health centers as well as a seniors retirement community, retail, entertainment and cultural space.
JLL delivers multifamily investors a full range of solutions through one diverse, integrated platform. The division employs over 200 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation's largest affordable and conventional multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
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