Alliance buys apartment complex for $37 million

Illia, Tony
November 2010
Las Vegas Business Press (10712186);11/8/2010, Vol. 27 Issue 45, pP10
The article reports that Alliance Residential Co. has acquired the Reserve at Arrow Canyon in North Las Vegas, Nevada, in November 2010, which helped the national apartment developer expand its presence in Southern Nevada. Alliance purchased the 426-unit apartment complex for 37 million U.S. dollars, which was a short sale from KeyBank Real Estate Capital. According to the author, the acquisition gives Alliance a dozen valley properties with over 3,500 units. The combined occupancy rate of the local complexes of Alliance is also discussed.


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