North AIɫɫ apartment complex sells for $70M
An apartment complex in North AIɫɫ has been sold for $70 million.
Real estate investment firm Kennedy Wilson announced Friday that it acquired Tides on Commerce, a 336-unit apartment complex in North AIɫɫ, and Finisterra, a 356-unit complex in Tempe, Arizona, for $166 million combined.
Clark County property records and Nevada business-entity filings show that the new landlord acquired Tides on Commerce for $70 million.
The rental complex, located at 4249 N. Commerce St., between Alexander and Craig roads, has a fitness center, pool and hot tub, along with other features.
Kennedy Wilson has a roughly 14 percent interest in the fund that acquired the two properties, the firm said, adding it was the asset manager.
The Beverly Hills, California-based company says that it has more than $29 billion of assets under management in the United States, the United Kingdom and Ireland and that it focuses primarily on rental housing.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.
