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Las Vegas apartment complex sells for more than $41M

A Las Vegas apartment complex has sold for more than $40 million.

InTrust Property Group purchased the 198-unit Atlas Apartment Homes off Decatur Boulevard and Rancho Drive, near North Las Vegas Airport.

Brokerage firm CBRE Group announced the deal Tuesday, saying it secured a $35.25 million loan for the acquisition.

It did not announce the purchase price but confirmed to the Review-Journal, as property records indicate, that the complex traded for $41.25 million and that the sale closed last month.

InTrust, based in Newport Beach, California, plans to update the common areas and renovate the apartments at Atlas, 5067 Madre Mesa Drive, according to the news release.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

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