Feb 05 2016 | Article by: The DI Wire
Hines Global REIT II Inc., a publicly registered non-traded real estate investment trust, finalized the purchase of the Domain Apartments in Henderson, Nevada for $58.2 million, exclusive of transaction costs. The seller was LV Eastern LLC.
Domain Apartments was constructed in 2014 and consists of 308 units with an average unit size of 1,075 square feet. The community features amenities including a fitness center, swimming pool, movie theater, electric vehicle charging stations and bicycle rentals. The property is currently 95 percent leased, with an average effective monthly rental rate of $1,252 per unit.
The Blue Vault Summit could not have been more perfectly timed. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. These conversations are paramount, especially in a time of significant regulatory change.