A joint venture between Southern California-based companies has purchased Club at Desert Pines, a 409-unit multifamily apartment community in Las Vegas, Nev. The value of the transaction was not disclosed. The venture, PMHE LLC, is an arrangement between San Diego-based Paragon Management Co. and MHE, a Los Angeles-based real estate investment company. The Club at Desert Pines was built in 1990 and features amenities such as an island pool, soothing spa, reserved covered parking and a newly remodeled clubhouse. It also features a gated entry, playground area, barbecue areas and 24-hour maintenance. Commenting on the transaction, Ricardo Jinich, Paragon principal and co-founder, said "The City of Las Vegas continues to experience job and population growth and improving fundamentals for mul...
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