Marcus & Millichap arranged the sale of the class B, 212-unit Cypress Point apartment complex in Las Vegas.

The value of the transaction was approximately $13.9 million.

Equity Residential, a Chicago-based REIT, sold the property to San Francisco-based Hamilton Zanze & Co.

Cypress Point Apartments is located on the southwest side of Las Vegas. The community was constructed in 1989 on 8.8 extensively landscaped acres. The property’s unit mix includes 92 one-bedroom/one-bath units of 720 square feet; 60 two-bedroom/two-bath units of 970 square feet; and 60 two-bedroom/two-bath apartments of 1,100 square feet.

At the time of sale, occupancy was 90 percent.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.

***

Send a Letter to the Editor for publication.
Send a comment or news tip to our newsroom.
Please include the headline of the story.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription