California investors buy Las Vegas apartment complex for $50M
Southern California real estate investors acquired a Las Vegas apartment complex for $50 million.
Tower 16 Capital Partners announced Friday that it bought the 512-unit Foothill Village, 6255 W. Tropicana Ave. at Jones Boulevard, in a joint venture with Henley USA.
The sale closed June 28, property records show.
Tower 16, based in Carlsbad, California, said it will oversee nearly $7 million in renovations and upgrades at the complex, which has three swimming pools, two basketball courts and other amenities.
The property is now called Altura on Tropicana. Clark County records indicate it was built in the 1970s and 1980s.
Henley is based in the United Kingdom and has U.S. offices in the Boston area, Florida, and Newport Beach, California.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.
