McDowell Properties has completed the acquisition of Sahara Palms, a 312 unit apartment property located in Las Vegas, NV. Sahara Palms is well located near the Las Vegas strip. McDowell intends to renovate the interiors to current market standards, enhance the amenities, and improve the curb appeal to increase value. The acquisition was made with a new joint venture partner.
McDowell Properties is a leading real estate investment company that focuses on the acquisition, management and repositioning of multifamily properties in growth markets throughout the United States. The current portfolio consists of over 17,000 apartment units. The company is based in Dallas and has regional offices in New York, Miami, Raleigh and San Francisco. The senior management team has owned and managed in excess of $7.5BN of real estate in 40 of the top 50 MSAs, with a particular focus on multifamily. McDowell is actively making investments with discretionary capital as well as through joint ventures with institutional investors.