NAI Vegas’ Sauter Multifamily Group announced the sale of the 240 unit Majestic Heights Apartments located at 5325 E. Tropicana Avenue in Las Vegas to Aspen Square Management, Inc. Built in 1990, the 94% occupied property closed for $18,600,000 ($77,500/unit) on a 5.51% CAP. Art Carll and Patrick Sauter represented the seller, Majestic Heights Owner, LLC.
