Rincon Partners, LLC ("Rincon") is pleased to announce the sale of Sunset Hills Apartments (the "Property") on December 9, 2020 for $22.8 million. Rincon acquired the 120-unit, class B, property located in Henderson, NV on January 24, 2019 for $17.8 million. Rincon completed a unit interior renovation program, which included new cabinets, quartz countertops, and stainless steel appliance, as well as other amenity enhancements to capitalize on the area's strong multifamily rental market.
The Property is located within the Henderson submarket of the Las Vegas MSA, which is one of the nation's top performing multifamily markets and a leader in job and population growth. The Property is easily accessible to the Las Vegas strip and other significant job corridors, as well as numerous retail and entertainment venues.
Rincon is headquartered in Phoenix, AZ with an acquisition office in Atlanta, and targets opportunistic and value add multi-family and self-storage commercial real estate in the Southwest and Southeast United States.
For further information on new acquisitions and joint venture opportunities, please contact Jason Ottman, Chief Investment Officer, in our Phoenix, AZ office at (480) 378-2959.