California firm buys Las Vegas Valley apartment complex

Tower 16 Capital Partners said it partnered with Henley Investments to purchase the 312-unit Five89 apartment complex in Las Vegas, seen above, for $32.5 million. (Courtesy Tower 16 Capital Partners)

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By Eli Segall / Las Vegas Review-Journal

July 26, 2019 - 4:58 pm

A San Diego-area real estate firm has bought an apartment complex in the eastern Las Vegas Valley.

Tower 16 Capital Partners announced Friday it partnered with Henley Investments to buy the 312-unit Five89 rental complex for $32.5 million.

The purchase was Tower 16’s fifth in the Las Vegas area.

Tower 16, based in Carlsbad, California, said it will oversee $4 million in renovations and upgrades to Five89, located at 4801 E. Sahara Ave., at Nellis Boulevard.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

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