MG Properties Acquires Las Vegas’ Tribeca North Apartment Homes for $81 Million

LAS VEGAS, NV – California-based MG Properties announced this week that they have acquired Tribeca North Apartment Homes in the Las Vegas metro region for $81 million.

Tribeca North Apartment Homes, located at 3825 Craig Crossing Drive, is comprised of 312 luxury “low-density” apartment units and boasts numerous resort-style amenities. The individual units offer functional floorplans and parking garage access is available to tenants.

The facility also offers access to employment centers for those looking for an easy commute to work, including over 57 million square feet of industrial buildings in North Las Vegas and the 2.3 million square-foot Helios mixed-use medical campus, which is currently in-development.

The apartment complex is also located just minutes from the famed Las Vegas Strip, which offers a plethora of both employment and entertainment options.

Residents of Tribeca North Apartment Homes can enjoy numerous communal perks, such as reserved covered parking; an indoor/outdoor state-of-the-art fitness center; a resort-style pool with oversized spa and lap pool; terrace featuring barbecue pavilion and outdoor fireplace; two fenced dog parks with pet watering stations; and a resident social lounge with demonstration kitchen and vintage arcade games.

“We encourage a stress-free lifestyle at Tribeca North,” the facility’s website reads. “Our amenities are the perfect example of that. Covering all your needs (and wants) our community of one, two, and three bedroom apartments brings you stunning in-home finishes and a premier amenity suite.”

The previous owner of Tribeca North Apartment Homes was The Bascom Group, which was represented in the sale by Spencer Ballif, Adam Schmitt, and Jannie Mongkolsakulkit of CBRE. The purchase was funded via a Fannie Mae loan provided by Bryan Frazier and Blake Hockenbury of Walker & Dunlop.

The acquisition of Tribeca North Apartment Homes represents the first for MG Properties in 2023; currently, the firm owns and operates over 2,000 apartment units in the greater Las Vegas area.

For more information on availability at Tribeca North Apartment Homes please visit https://www.livetribecanorth.com or call them at (844) 521-1659.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.