MG Properties has acquired The Pearl at St. Rose, a multifamily community in Las Vegas’ Silverado Rancho master-planned community, from The CONAM Group for $64 million.
The Pearl at St. Rose is a 270-unit apartment community along the St. Rose Corridor in South Las Vegas. Built in 2000, the property features a range of lifestyle amenities, including a pool and spa, fitness center, dog park, and resident clubhouse.
Charles Steele, John Cunningham, and Jared Glover of Berkadia represented CONAM. Freddie Mac provided financing for the transaction, which Barkadia’s Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino, and Michael Beach arranged.
The closing marks MG Properties’ ninth multifamily acquisition over the past twelve months, comprising 3,250 units totaling over $1 billion.
Situated along the St. Rose Corridor in South Las Vegas, The Pearl at St. Rose offers 270 apartments with spacious floor plans and modern interior finishes. Community amenities include a pool and spa, fitness center, dog park and resident clubhouse. The property was built in 2000.
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