LAS VEGAS, NV - An affiliate of Walton Street Capital announced that it has acquired and recapitalized a 286-unit mid-rise community located at 3850 West Nevso Drive in West Las Vegas in partnership with The Calida Group.
Completed in 2021, the Property features a mix of studio, one-, and two-bedroom apartments that are currently 96% leased. Unit and property amenities include designer interiors with contemporary finishes, fully equipped kitchens with stainless steel appliances, plank flooring, a luxurious resident clubhouse, an outdoor pool with cabanas and grill areas, an oversized fitness center with a yoga/spin studio, tanning salon, dog park and rooftop deck overlooking the Las Vegas Strip.
Elysian Palms is situated just one mile west of the Las Vegas Strip, which is the heart of the metro area and is home to over 30 major casinos, 145k hotel rooms, and 8 million SF of convention space and countless retail, dining, and entertainment venues. With nearby proximity to Interstate 15 & Highway 215, residents can easily access numerous employment nodes and recreational facilities including a scenic trail system, parks, and professional sporting events.
“The Elysian at the Palms represented the opportunity to acquire a recently constructed, high quality residential product, differentiated in a premier lifestyle location. We are excited about our venture with The Calida Group in this transaction and look forward to expanding our partnership together,” said Andrew Gindy, Senior Principal at Walton Street.
“We anticipate that the Las Vegas market is well positioned for continued population growth, relative affordability, low levels of new supply, and the ongoing cyclical recovery of the leisure sector,” said Robert Bloom, Managing Principal at Walton Street.