On July 18, 2022, Sares Regis Multifamily Fund IV (“SRMF VA-IV”) acquired Alicante, a 232-apartment community built in 2001. The property is located within the Summerlin/The Lakes submarket, a premier suburb of Las Vegas. Exposed to over 13.7 million square feet of retail within a five-mile radius, the area benefits from a growing job market, and favorable demographics.
Alicante features a selection of one, two, and three-bedroomfloorplans. The previous ownership upgraded 74 units and maintained theremaining units in classic condition. SRMF VA-IV plans to enhance all unit interiors with the same luxurious specifications, and upgrade common areas including fitness center, pool and pool deck area, and clubhouse.