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Sb Real Estate Enters Las Vegas With $67M Buy

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The new owner plans to inject $2 million to renovate the 241-unit community. : SB Real Estate Partners has entered the Las Vegas market with the acquisition of the 241-unit Russell Apartments for $67 million. The seller was Watt Cos. Cushman & Wakefield represented the seller, while Berkadia arranged joint venture equity. The asset last changed hands in 2019, when Bascom Group sold it for $43.9 million, Yardi Matrix shows. The property, formerly known as Chapel Hill, comprises 19 two-story buildings with one- to three-bedroom floorplans ranging from 679 to 1,166 square feet, according to Yardi Matrix data.

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