REAL ESTATE BRIEFS: JAN. 15

Apartment complex sells for $105.9M

Sauter Multifamily Group of Avison Young has announced the closing of the $105.9 million sale ($190,126 per unit) of AYA Apartments, a 557-unit property at 3600 University Center Drive.

Avison Young principals Patrick Sauter, Art Carll-Tangora and Steve Nosrat represented the seller, which had acquired the asset in 2019. The Sauter Multifamily Group was also involved in that sale.

Built in 1973 and renovated in 2019, the property features a mix of studio, one-, two- and three-bedroom apartments in a two-story garden style layout across 42 buildings.

The name of the street was recently changed from Swenson to University Parkway as part of new campaign to enhance the neighborhood. The city of Las Vegas is investing more than $2 billion in the area because it is adjacent to the Convention Center.

Century Communities offers homes online

Century Communities Inc., a top 10 national homebuilder, announced that it has expanded its online homebuying experience to include all homes throughout its national footprint, which encompasses operations in 17 states and more than 40 markets. The organization’s online “Buy Now” experience was initially pioneered more than three years ago through its Century Complete brand. Homebuyers also may purchase homes within the Company’s Century Communities brand with the same online ease and convenience. Century Communities’ online homebuying expansion comes as the company celebrates another major milestone — its 20-year anniversary.

Century’s fully online sales model is further enhanced by a full suite of virtual and digital homebuying tools, including online prequalification, electronic earnest money deposit, virtual tours and digital contract signing.

“We’re proud to remain at the forefront of online homebuying, empowering buyers by putting them in complete control of where and when they purchase their dream home,” said Rob Francescon, co-chief executive officer and president. “In addition, we’ll continue to complement this virtual experience with in-person sales teams available to walk-in buyers through the process, schedule and conduct home tours, offer guidance on home financing and more.”

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Nevada State College Foundation adds to board

Matt Burns, AIA, executive vice president of Las Vegas-based architecture firm Ed Vance &Associates, has been named the newest board member of Nevada State College Foundation.

“I am so happy and grateful for Matt. He is not the kind of person who thinks about himself or looks to win awards. However, I know that he is the single most-deserving person to be recognized for his incredible talents and achievements. I know he’ll be a tremendous asset to Nevada State College,” said Ed Vance, founder and CEO of Ed Vance &Associates.

As the company’s executive vice president and chief operating officer, Burns is responsible for making executive decisions for the company, overseeing operations, building business and managing multimillion-dollar projects. Burns is a registered architect. With 20 years of experience in commercial, hospitality, health care and industrial projects, he is familiar with all phases of work from entitlements through contract administration.

As an integral part of the production team, Burns works closely with designers and clients, coordinating the efforts of all outside consultants from the beginning of the schematic phase throughout the completion of the project. He is instrumental in meeting the applicable codes that govern any project, and he works closely with all agencies having jurisdiction to ensure his projects are successful in securing the necessary building permits for construction.

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CBRE adds office sector team

CBRE announced that Marc Magliarditi, SIOR, CCIM, and Travis Landes have joined the firm’s Las Vegas office and will focus on office sales and leasing throughout the Las Vegas Valley.

Magliarditi and Landes specialize in executing tailored, comprehensive leasing and marketing strategies for investors and owners of office real estate. They were previously with Logic Commercial Real Estate in Las Vegas and are joined by their client services specialist, Miranda Jennings.

“We are thrilled to welcome Marc and Travis, two leaders in the Las Vegas office sector, to our team,” said Las Vegas Managing Director Cassie Catania-Hsu. “They have developed strong relationships with a large client base of owners, landlords and companies in the Las Vegas market and are well-known for their innovative lease-up and disposition strategies. Marc and Travis complement our team and enhance our platform across the office vertical in Las Vegas, ensuring our business remains the benchmark of office-focused clients for decades to come.”

■ Magliarditi brings over a decade of industry experience to CBRE. His expertise spans local and national site selection, lease negotiation and buyer and seller representation for the acquisition and disposition of investment and owner-user properties. Before transitioning to the brokerage side, he began his career in real estate with a regional real estate development and investment company. Magliarditi has been a Certified Commercial Investment Member (CCIM) since 2017 and received his Society of Industrial and Office Realtors (SIOR) designation in 2020. He is one of only 12 professionals in Southern Nevada to hold both designations.

■ Landes joins CBRE with over seven years of experience in professional and medical office leasing, buyer and seller representation, and investment sales. Prior to beginning his career in commercial real estate, he was a founding member of an electric sign company in Northern Nevada. He is an associate member of the Society of Industrial and Office Realtors (SIOR) and is completing his designation as a Certified Commercial Investment Member (CCIM).

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Calida Group names chief investment officer

Josh Nelson has been promoted to chief investment officer for The Calida Group, a vertically integrated multifamily investment and development firm, where he is responsible for overseeing the acquisition, development and asset management-related activities across The Calida Group’s affiliated real estate holdings. Nelson is also a member of Calida’s Executive Committee and Investment Committee. Prior to joining Calida, Nelson worked on the corporate development and mergers and acquisitions team at Liberty Media &Liberty Interactive, a Fortune 300 private equity stylized investment fund.