News

February 13, 2025

Portola Centennial Hills Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of Portola Centennial Hills (“Portola” or the “Property”), formerly known as Brownstone Apartments, in Las Vegas, Clark County, NV. The acquisition of the Property closed on February 13, 2025. Portola is comprised of a 143-unit, class A, garden-style, multifamily apartment community consisting of nine total buildings. The investment plan is to acquire the Property at an attractive basis and take advantage of its convenient location that offers walkability to nearby lifestyle retail amenities and a city-owned and maintained public park, along with excellent access to several of the Las Vegas MSA’s major employment hubs.

Portola is located in Las Vegas’ Centennial Hills area, a high-income suburban-infill neighborhood that provides residents with nearby access to grocery stores (Smith’s, Sprouts, and Albertsons), big box retailers (TJ Maxx, Target, Kohl’s, and Office Depot), banks, and restaurants. The Property is also strategically situated along Interstate 11/ U.S. Highway 95, providing a ~20-minute commute to the Las Vegas Strip and a ~25-minute commute to Nellis Air Force Base, one of the world’s largest air force bases with over 14,914 military personnel on site at the time of acquisition. Additionally, the Property is located approximately ~25 minutes from Creech Air Force Base, a command-and-control center within the United States Air Force that contributes to employment opportunities for over 3,500 individuals at the time of acquisition.

Atlantic Creek has offices in New York, NY and Palm Beach, FL and primarily targets direct and joint venture investments in opportunistic and value add multi-family commercial real estate and selectively within industrial, student housing, self-storage, and other property types, primarily located on the East and West Coasts of the U.S., Texas, and other select U.S. markets.

For further information on new acquisitions and joint venture opportunities, please contact Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.