{"id":1004089555,"date":"2014-01-11T13:06:58","date_gmt":"2014-01-11T21:06:58","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=230413"},"modified":"2021-05-15T07:11:48","modified_gmt":"2021-05-15T15:11:48","slug":"kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/","title":{"rendered":"KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M"},"content":{"rendered":"<p class=\"MsoNormal\">By Alex Girda, Associate Editor, and Paul Rosta, Senior Editor<\/p>\n<p class=\"MsoNormal\">Las Vegas&#8217; residential market ended 2013 with a flurry of high-profile multi-family <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/praedium-south-blvd-apts.jpeg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-230414\" title=\"praedium south blvd apts\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/praedium-south-blvd-apts.jpeg\" alt=\"\" width=\"300\" height=\"225\" \/><\/a>transactions. In a $237 million deal, KRE Capital and Dune Real Estate Partners teamed up to acquire five residential properties comprising 1,435 rental and condominium units, <a href=\"https:\/\/www.vegasinc.com\/business\/2014\/jan\/03\/downtowns-ogden-juhl-are-part-bulk-sale-properties\/\" target=\"_blank\" rel=\"nofollow noopener\"><em>VegasINC.com<\/em><\/a> reports.<\/p>\n<p class=\"MsoNormal\">The seller, ST Residential, was formed by private equity investors who bought construction loans on the properties from the Federal Deposit Insurance Corp., Bloomberg News reported. FDIC, in turn, had assumed the notes when it closed Corus Bank in 2009.<\/p>\n<p>According to information on ST Residential\u2019s website, the portfolio includes:<\/p>\n<ul>\n<li>The Juhl, 353 E. Bonneville Ave., 341 units<\/li>\n<li>Loft 5, 2715 West Pebble Rd., 272 units<\/li>\n<li>One Las Vegas, 359 units (address not listed)<\/li>\n<li>Spanish Palms Condominiums, 5250 S. Rainbow Boulevard, 188 units<\/li>\n<li>The Ogden, 150 Las Vegas Blvd. N., 275 units<\/li>\n<\/ul>\n<p class=\"MsoNormal\">Of note, the Ogden is the home of Tony Hsieh, the entrepreneur and leader of the Downtown Project.\u00a0ST Residential originally listed the assets in early 2013 as part of a 13-property, eight-state portfolio with a $1 billion asking price.<\/p>\n<p class=\"MsoNormal\">Also in late December, The Praedium Group acquired South Blvd. Apartments (pictured above) from Nevada West Development for $41.9 million. Located at 10200 Giles St., the 320-unit complex was completed in 2012. CBRE Group Inc. arranged financing for the deal, while Hendricks-Berkadia represented the seller.<\/p>\n<p class=\"MsoNormal\">South Blvd. Apartments comprises 29 two-story buildings, large layouts, nine-foot high ceilings, granite countertops, stainless steel appliances and washer\/dryer units. Community amenities include a state-of-the-art clubhouse and health center, a resort-style pool, a common barbecue area, a movie theater with stadium seating, and gated garage parking. The complex was 93 percent occupied at closing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor, and Paul Rosta, Senior Editor Las Vegas&rsquo; residential market ended 2013 with a flurry of high-profile multi-family transactions. In a $237 million deal, KRE Capital and Dune Real Estate Partners teamed up to acquire five residential properties comprising 1,435 rental and condominium units, VegasINC.com reports. The seller, ST Residential, was [&#8230;]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1593,21742],"tags":[1815],"class_list":["post-1004089555","post","type-post","status-publish","format-standard","hentry","category-las-vegas","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor, and Paul Rosta, Senior Editor Las Vegas&rsquo; residential market ended 2013 with a flurry of high-profile multi-family transactions. In a $237 million deal, KRE Capital and Dune Real Estate Partners teamed up to acquire five residential properties comprising 1,435 rental and condominium units, VegasINC.com reports. The seller, ST Residential, was [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-01-11T21:06:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T15:11:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/praedium-south-blvd-apts.jpeg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M\",\"datePublished\":\"2014-01-11T21:06:58+00:00\",\"dateModified\":\"2021-05-15T15:11:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/\"},\"wordCount\":275,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/01\\\/praedium-south-blvd-apts.jpeg\",\"keywords\":[\"National\"],\"articleSection\":[\"Las Vegas\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/\",\"name\":\"KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/01\\\/praedium-south-blvd-apts.jpeg\",\"datePublished\":\"2014-01-11T21:06:58+00:00\",\"dateModified\":\"2021-05-15T15:11:48+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/01\\\/praedium-south-blvd-apts.jpeg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/01\\\/praedium-south-blvd-apts.jpeg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\",\"name\":\"Alex Girda\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Alex-Girda.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Alex-Girda.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Alex-Girda.jpg?w=96\",\"caption\":\"Alex Girda\"},\"description\":\"Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/alex-girda\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/","og_locale":"en_US","og_type":"article","og_title":"KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M","og_description":"By Alex Girda, Associate Editor, and Paul Rosta, Senior Editor Las Vegas&rsquo; residential market ended 2013 with a flurry of high-profile multi-family transactions. In a $237 million deal, KRE Capital and Dune Real Estate Partners teamed up to acquire five residential properties comprising 1,435 rental and condominium units, VegasINC.com reports. The seller, ST Residential, was [...]","og_url":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2014-01-11T21:06:58+00:00","article_modified_time":"2021-05-15T15:11:48+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/praedium-south-blvd-apts.jpeg","type":"","width":"","height":""}],"author":"Alex Girda","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/"},"author":{"name":"Alex Girda","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c"},"headline":"KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M","datePublished":"2014-01-11T21:06:58+00:00","dateModified":"2021-05-15T15:11:48+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/"},"wordCount":275,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/praedium-south-blvd-apts.jpeg","keywords":["National"],"articleSection":["Las Vegas","News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/","url":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/","name":"KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/praedium-south-blvd-apts.jpeg","datePublished":"2014-01-11T21:06:58+00:00","dateModified":"2021-05-15T15:11:48+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/praedium-south-blvd-apts.jpeg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/praedium-south-blvd-apts.jpeg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/kre-dune-acquire-5-m-f-assets-for-237m-south-blvd-apartments-fetches-42m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c","name":"Alex Girda","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","caption":"Alex Girda"},"description":"Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.","url":"https:\/\/www.commercialsearch.com\/news\/author\/alex-girda\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004089555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004089555"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004089555\/revisions"}],"predecessor-version":[{"id":1004533767,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004089555\/revisions\/1004533767"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004089555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004089555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004089555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}