REAL ESTATE BRIEFS: DEC. 4
Local NAIOP to hold holiday toy drive
NAIOP Southern Nevada, an organization representing commercial real estate developers, owners and related professionals in office, industrial, retail and mixed-use real estate, is supporting CASA Foundation of Las Vegas this holiday season with its annual toy drive.
The CASA Foundation of Las Vegas was established in 1983 to promote and support the efforts of the Clark County CASA (Court Appointed Special Advocate) program. Over the years, the CASA Foundation of Las Vegas has added another component to this mission by providing funds for the unmet needs of local foster children. This includes support for medical needs, transportation costs for visiting family members, summer camps, sports, music and art lessons, school-related activities and tutoring.
NAIOP’s toy drive runs through Dec. 6. The goal is to provide each child in Clark County foster care with three toys at its annual Angel Tree event.
It’s easy to support the toy drive, with options that include ordering online at Target and Amazon Wishlist.
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Realtors to host toy drive for hospitals
Las Vegas real estate executives Frank Napoli and Stephanie Napoli are continuing the tradition of giving with their annual Napoli Group Toy Drive. The siblings have hosted the community-wide toy drive every year since 2012 with this year’s campaign kicking off this weekend. Donate new and unwrapped toys at multiple locations in Las Vegas and Henderson that will be given to patients at the Children’s Hospital of Nevada at UMC and the Sunrise Hospital Pediatric unit. Toys are being accepted now through Dec. 17.
“The most rewarding part about the toy drive is being able to spread holiday cheer to those in need,” said Frank Napoli, owner of The Napoli Group, a Berkshire Hathaway HomeServices, Nevada Properties real estate team. “Every year we are so thankful for the Las Vegas community coming together to help us with this special cause.”
The annual toy drive has included participation from dozens of community businesses, and even a classic car parade with dozens of cars to make donations during the holidays.
“We have been so fortunate to have a large group of partners who love and support Las Vegas want to help with our toy drive,” Frank Napoli said. “As Las Vegas natives, we have seen the need in our community grow and feel fortunate to provide some happiness to children who are in the hospital during this holiday season.”
The Napoli Group has organized a holiday toy drive every year since 2012 and gifted hundreds of thousands of toys. Wish list items include technology/entertainment items, toys and personal care items for toddlers, teen entertainment and personal care items, arts and crafts supplies, homemade items, clothing, Treasure Box toys and needed clothing items.
This Friday through Sunday, The Napoli group has partnered with the Vegas Auto Gallery to kick off the toy drive during an exotic and luxury car showcase.
Donations will be accepted on the lawn in Downtown Summerlin from 9 a.m. to 7 p.m. each day.
Donations are being accepted at the following locations during business hours through Dec. 17.
■ The Napoli Group office: 8850 W. Sunset Road, No. 120
■ Berkshire Hathaway HomeServices, Nevada Properties offices:
■ Sahara: 7475 W. Sahara Ave., Suite 100
■ Southwest: 8850 W. Sunset Road, Suite No. 200
■ St. Rose: 3185 St. Rose Parkway, Suite No. 100
■ Summerlin: 10777 W. Twain Ave., Suite No. 333
■ Vegas Auto Gallery:
■ Dean Martin: 3055 Palms Center Drive
■ Sahara: 5600 W. Sahara Ave.
■ Black List: 1395 Raiders Way, Suite No. 130
For more information about the Napoli Toy Drive, contact Stephanie Napoli at
702-524-8914 or email stephanie@thenapoligroup.com.
Angeles-based firm buys Siena Townhomes
Built in 2000, Siena Townhomes, now called Aero Townhomes, is situated on 9.57 acres and consists of 42 two-story buildings. Each unit is a town home with no other units above or below. The unit mix includes 82 two-bedroom units and 113 three-bedroom units. On-site amenities include a private gated entry, swimming pool, fitness center, business center, playground, barbecue area, basketball courts and carports.
Glenn Dulaine, CCIM, of Realty Executives SNV, represented both buyer and seller in the transaction.
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Kairos Investment acquires multifamily property
Kairos Investment Management Co. has acquired Siena Townhomes, a 195-unit affordable multifamily property in Central Las Vegas, in an off-market transaction.
“As an asset manager, allocator, and registered investment adviser, Kairos Investment Management seeks out off-market opportunities in markets that exhibit potential outsized favorable performance like Central Las Vegas,” said Carl Chang, CEO and founder of Kairos. “Despite its affordable reputation, revitalization of downtown Las Vegas’ more diverse and growing employment opportunities and limited new supply have led to increasing market rate rents, deepening the need for quality, budget-friendly multifamily communities like Siena Townhomes throughout the area.”
Built in 2001, Siena Townhomes has a high occupancy rate with a 40-person waiting list. Situated less than 6 miles north of the Las Vegas Strip, the asset is within a 10-minute drive of several well-known retail centers including Las Vegas North Premium Outlets, a 676,000-square-foot outlet mall that features over 140 stores and restaurants, and Meadows Mall, a 960,000-square-foot enclosed mall that offers access to 118 stores. The property is also located less than 1 mile from Texas Station, a 200-room hotel and casino.
“Given the property’s advantageous location and the area’s extremely low multifamily vacancy rate of 2.5 percent, Siena Townhomes aligns well with our firm’s impact strategy in affordable housing assets in growing or supply constrained markets throughout the United States,” Chang said.
Siena Townhomes features a mix of 82 two-bedroom town homes and 113 three-bedroom town homes with full-size washers and dryers, large walk-in closets, and a private balcony or patio with extra storage. Common area amenities at the community include a clubhouse, pool and spa, fitness center, barbecue areas, basketball court, business center, children’s play area and carports.
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Paragon Pools executive earns national award
Las Vegan Joseph Anthony Vassallo, vice president and chief design executive of Paragon Pools was named the Pool & Hot Tub Alliance (PHTA) 2021 Builder of the Year at the awards ceremony held on Nov 15 in Dallas, Texas, during the Pool, Spa, Patio & Deck Expo.
The PHTA annually recognizes prominent achievements and outstanding performers in the pool, spa and hot tub industry, which include the individuals awards and the international awards of excellence design awards.
The Builder of the Year Award is a peer-nominated award given to one PHTA builder member who has advanced the pool building profession through outstanding achievements and dedication to the industry.
Nominees must meet a strict set of criteria, including commitment to being a positive role model for the profession and peers, have a proven track record of meeting or exceeding industry standards in designing and building pools and spas, must have been employed in the pool, hot tub, or spa industry for at least five years, has actively participated with PHTA at a local or national level and must be a current employee of a PHTA member company in good standing.
Vassallo, who is often referred to as Joe Jr. began his career as a design apprentice in his teens (1989). He found enjoyment in the challenge of conceiving and developing pool and landscape plans to complement the home’s architecture and restrictive plot layouts while designing a stunning custom design for the homeowner.
Following high school, he studied architecture, marketing and small business management. He has continued to further his professional and technical skills with PSI Leadership Seminars, Tom Hopkins Seminars, Auto CAD-2000, Structure Studios 3-D training, PHTA University curriculum, ART- Artistic Resources and Training, as well as CEU’s in industry business and technical topics.
In 2001, Vassallo joined his father in opening the family business, Paragon Pools in Las Vegas. As the vice president, Vassallo has been instrumental in the success of the company and creating a high standard for design and construction for company projects earning an expansive list of international design awards and business accolades over the years, including Masters of Design Awards, International Awards of Excellence Design Awards and Aqua Choice Design Awards, Aqua 100 Hall of Fame.
