2 Condo Projects SOLD

Well, Multi-Housing News announced their Deal of the Day.  Two condo developments near Las Vegas in Henderson's Green Valley area were sold to an undisclosed buyer.  San Diego-based Grubb & Ellis BRE Commercial worked in conjunction with Grubb & Ellis Las Vegas to facilitat the deal.  So yes, this does show that many portfolio holders and condo development owners are seeking an exit strategy, but it also shows the willingness of others to enter the market at this time. 

The two projects were the Crossing at Green Valley and Martinique Bay Condominiums.  The sale was finalized at $75.4 million!  It is unclear what the new owners of these developments intend to do but my guess is that they plan to hang on to these assets for a long time and await the recovery of our beloved condo market. 

Another great Henderson condo development just outside the lovely Las Vegas is Vantage Lofts.  This new modern 110 unit loft property has homes from $400,000!  Whether its Henderson condos of Las Vegas condos, people are still buying and projects are still selling.  Let's see where it goes from here.