60°F
weather icon Cloudy
Las Vegas, NV
Housing

California investors buy Las Vegas apartment complex for $50M

Tower 16 Capital Partners bought the 512-unit Foothill Village, 6255 W. Tropicana Ave. in Las Vegas, in a joint venture with Henley USA for $50 million. (Anton Communications)
Tower 16 Capital Partners bought the 512-unit Foothill Village, 6255 W. Tropicana Ave. in Las Vegas, in a joint venture with Henley USA for $50 million. (Anton Communications)
More Stories
Former homes of Las Vegas mobsters that have sold in recent years
‘Don’t piss off the DOJ’: Veteran Las Vegas agents react to renewed push against Realtors
The shuttered Atrium hotel east of the Strip next to the Hard Rock Hotel photographed on Wednes ...
The latest plans to redevelop shuttered hotel near the Strip
How many homes do Gen X millionaires own in Las Vegas?
By / Las Vegas Review-Journal
July 20, 2018 - 4:51 pm
 
Updated July 20, 2018 - 10:29 pm

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.

MOST READ
1
An artificial mind with a lifelike body: Las Vegas man brings creations to life
An artificial mind with a lifelike body: Las Vegas man brings creations to life
2
Here’s how much a single adult needs to make to ‘live comfortably’ in Las Vegas
Here’s how much a single adult needs to make to ‘live comfortably’ in Las Vegas
3
Henderson boy with autism found in metal cage, parents arrested
Henderson boy with autism found in metal cage, parents arrested
4
Former homes of Las Vegas mobsters that have sold in recent years
Former homes of Las Vegas mobsters that have sold in recent years
5
In-N-Out secret menu: 30-plus items you have to try once
In-N-Out secret menu: 30-plus items you have to try once
THE LATEST
 
How many homes do Gen X millionaires own in Las Vegas?
By Patrick Blennerhassett / RJ

Households making $1 million or more annually own 10 percent of all the single-family homes in the Las Vegas Valley, a new study shows.

REDFIN's for sale sign is posted outside a single family house at Novara Lane on Wednesday, Jun ...
Why are mortgage rates so high right now?
By Patrick Blennerhassett / RJ

A local mortgage broker explains the rates and the misinformation surrounding how they are set and what impacts them