Cushman & Wakefield Commerce announced it has negotiated the sale of Portofino Villas, a 280 unit apartment community at 6300 West Lake Mead Boulevard, Las Vegas. Per Clark County Assessor, Millburn & Company purchased the property from the AXS Opportunity Fund for $26,000,000.
Built in 1997, the Tuscan style villa has an abundance of modern amenities including a resort-like pool and spa, sand volleyball court, fitness center. Each of the 1, 2, and 3 bedroom options include a large private patio or balcony, and renovations are planned to add improvements.
“Portofino Villas has excellent potential for Millburn & Company,” said Carl Sims, Cushman & Wakefield Commerce Executive Director, and lead broker for the buyer. “Nevada boasted one of the fastest growing economies in the nation in 2016, and the multifamily housing market was no exception. Millburn & Company has renovations in mind for the Villas that will be on par with the improving market.”