CHICAGO–(BUSINESS WIRE) – A subsidiary of Walton Street Capital, LLC (“Walton Street”) announced that it has partnered with a mid-size, 286 unit residential complex on 3850 West Nevso Drive in West Las Vegas (“Elysian Palms” or “Property”) The Calida Group (“Calida”).
The property, which was completed in 2021, offers a mix of studio, one and two-room apartments, which are currently 96% rented. The amenities of the unit and property include designer interiors with modern finishes, fully equipped kitchens with stainless steel appliances, plank floors, a luxury clubhouse, an outdoor pool with cabanas and BBQ areas, an oversized fitness center with a yoga / spin studio, a tanning salon, Dog park and rooftop overlooking the Las Vegas Strip.
Located just a mile west of the Las Vegas Strip, the heart of the subway, Elysian Palms is home to over 30 major casinos, 145,000 hotel rooms and 8 million SFB of convention space, as well as a myriad of retail, dining and entertainment venues. Proximity to Interstate 15 and Highway 215 provides residents with easy access to a wide variety of employment and recreational facilities, including scenic pathways, parks, and professional sporting events.
“The Elysian at the Palms was an opportunity to acquire a recently built, high quality residential product that differentiates itself in a prime lifestyle location. We are excited about our engagement with The Calida Group on this transaction and look forward to growing our partnership together, ”said Andrew Gindy, Senior Principal at Walton Street.
“We believe the Las Vegas market is well positioned for continued population growth, relative affordability, low supply and the continued cyclical recovery in the leisure sector,” said Robert Bloom, Managing Principal, Walton Street.
About Walton Street Capital, LLC: Walton Street is a private equity real estate investment firm that has raised over $ 14 billion in capital commitments from a wide range of experienced institutional investors through its subsidiaries since its inception in 1994. The Walton Street Directors have collectively acquired, financed, managed and sold over $ 50 billion worth of real estate, and have an average of 20 years of real estate experience. The senior management has invested and managed both real estate capital and debt collectively over multiple real estate cycles spanning five decades and more than 40 years, building long-term and deep relationships with lenders, public and private real estate owners, operators, brokers, managers and industrial service providers.
About The Calida Group: The Calida Group is a leading developer, investor and operator of apartment buildings in the western United States. Founded in 2007 by Douglas Eisner and Eric Cohen, the builders have developed or acquired more than 16,000 apartment buildings. Calida invests around 1 billion annually in many of the country’s largest financial institutions.
