72°F
weather icon Windy

San Diego firm buys its second Las Vegas rental complex

A San Diego real estate firm has bought its second Las Vegas rental complex.

Logan Capital Advisors acquired the 208-unit Oasis Sierra, 7001 W. Charleston Blvd. near Rainbow Boulevard, said Paul Runkle, director of acquisitions.

The $36.1 million purchase closed Aug. 9, property records show.

Runkle said last week that Oasis Sierra is “a very nice building in a solid location” along transportation corridors and near retail.

The complex was built in 1998 and was more than 95 percent occupied at the time of sale, he said.

Logan’s purchase follows its June acquisition of the 255-unit Elysian at Southern Highlands, a townhouse complex not far from the M Resort, for more than $64 million.

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

THE LATEST
 
Housing permits in Nevada drop for 2nd straight year

The Las Vegas Valley is experiencing an increase in multifamily units coming onto the market, which have flattened and even decreased rental rates in some areas.

 
Where are homes selling in the Las Vegas Valley?

New figures from Redfin and Clark County show the current state of the Las Vegas real estate market and where the most homes are selling.

 
Tesla solar panels will power $12.75M Nevada home

The multimillion-dollar home will feature a “Batcave” style garage in addition to the Tesla solar roof system, the listing agent said.