CONAM Strategic Investments Fund IV has acquired Alicante Apartment Homes, a 232-unit multifamily community in the Spring Valley submarket of Las Vegas.
The transaction expands CONAM’s existing Las Vegas portfolio and represents the latest acquisition for Fund IV, which targets well-located multifamily properties in high-growth U.S. markets.
Built in 2001, Alicante consists of two-story garden-style buildings across 11.29 acres. Its one-, two-, and three-bedroom apartments average approximately 1,092 square feet and include luxury vinyl plank flooring, quartz countertops, stainless steel appliances, and full-size washers and dryers.
Community amenities include a pool and spa, a fitness center with yoga and spin studios, a clubhouse, a billiards room, a dog park, a playground, package lockers, and gated access.
CONAM highlighted Alicante’s relatively large floor plans and low-density configuration as factors supporting occupancy and resident retention.
The property is less than one mile from Summerlin and provides access to employers and institutions including Southern Hills Hospital, St. Rose Dominican Hospital’s San Martin Campus, UnCommons, and the developing UNLV Tech Park. Average household income within one mile exceeds $112,000.
CONAM manages more than 60,000 units across over 500 properties in 26 metropolitan areas and 11 states.
KEY QUOTES:
“Alicante fits squarely within our investment strategy, well-built suburban communities in markets with durable demand drivers, strong demographics, and attractive relative value. CONAM has been an owner and operator in Southern Nevada for decades, and this investment is a great addition to our existing portfolio in the Las Vegas market.”
Zach Markell, Acquisitions Director at CONAM
