3 Las Vegas Properties sold by Tower 16 for $182M

By Harry Potter Last updated Nov 18, 2021

Tower 16 got buyers for three apartment communities in Las Vegas of a total of 1,165 units for $182 million. The commercial real estate investment and management company acquired the property for $112 million. For more, they spent $10.3 million for the improvements on the assets. During the two and a half years of ownership.

Above all, The improvements included upgrading lease offices, renovations of the interior and exterior. Importantly, Tower 16 Co-founder Tyler Pruett mentioned in a statement about all three properties. Subsequently, known as “Accent on Rainbow”, “Accent on Decatur” and “Accent on Sahara” required specific improvements for purchase. It outperformed the goals of the company.

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