Argosy Real Estate Partners Exits Jade Apartments in Las Vegas, NV
On December 15, 2021, Argosy Real Estate Partners exited its investment in Jade Apartments, a six-story, 287-unit Class A multifamily development project with 1,400 square feet of ground floor retail located in Las Vegas, Nevada. Jade Apartments was sold to a private real estate investment firm.
In September 2018, Argosy partnered with Fore Property Company (“Fore”) to acquire the six-acre land parcel for the project. The project was completed in July 2021 was approximately 90% leased at the time of sale.
Fore Property Company is a leading vertically-integrated real estate organization headquartered in Las Vegas, NV with seven corporate offices located across the U.S. Jade Apartments represents Argosy’s second investment alongside Fore following Lotus, a 295-unit multifamily development located in Las Vegas that was sold in 2018.
Jade Apartments is located immediately west of I-15 and the Las Vegas Strip, which is home to the area’s upscale casino resorts, dining and retail destinations, famous nightlife attractions, and top employers. The property includes a mix of one-, two-, and three-bedroom floorplans (including five townhome-style units with attached, two-car garages), featuring high-end finishes and a state-of-the-art amenity package complete with a resort-style pool, private garages, fitness center, yoga studio, resident entertainment lounge, and sky lounge.