Waterton partnered with The NRP Group to acquire an 8.5-acre site on South Las Vegas Boulevard in Las Vegas, NV. Construction on the 368-unit luxury rental community is scheduled to begin imminently. Delivery of the first residences is estimated for mid-year 2027 with completion targeted for early 2028.
Waterton and The NRP Group are providing equity commitments while CIBC is providing a senior loan.
The South Valley rental community, 15 minutes from the Las Vegas strip, will consist of two four-story, elevator-serviced multifamily buildings offering studio, one-, two, and three-bedroom floorplans with select one-bedrooms also featuring a den. The amenity package will include an outdoor pool, two courtyards, and outdoor seating areas with firepits and grilling stations. A club lounge, co-working space and conference room round out the amenity offerings planned at the community.
The NRP Group will serve as general contractor and provide property management services.
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