California firm buys Las Vegas apartment complex for $66M
An apartment complex next to a recently purchased Las Vegas strip mall has been sold as well.
Los Angeles-based Compass Acquisition Partners announced this month that it acquired the 488-unit Sandpiper rental complex for $66 million.
The 20-acre property at 4650 W. Oakey Blvd., just east of Decatur Boulevard, was built in the 1980s, Clark County records show.
Compass, led by CEO Lynn Owen, said it plans to put about $7.5 million of improvements into the complex.
Sandpiper sits behind the Westland Fair retail center at the corner of Charleston and Decatur boulevards. Los Angeles real estate firm Cannon Commercial recently acquired more than 214,000 square feet of space at the strip mall for $43.5 million.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.
