Northcap Commercial Multifamily Arranges Sale of Tammany Hall & Rochelle Manor for $7,475,000

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Devin Lee, CCIMRobin Willett,Jerad Roberts, and Jason Dittenber,of Northcap Multifamily, are pleased to announce the recent sale of Tammany Hall and Rochelle Manor Apartments for $7,475,000 ($50,168/unit). This sale consisted of 149 multifamily units built in 1972, located at 4320, 4340 and 4386 Escondido Street in Las Vegas, Nevada. The purchaser of this value-add opportunity plans extensive renovations to the property.

“Devin Lee and his team at Northcap Commercial are truly dedicated professionals.  They worked tirelessly to put our deal together.  Through his strong relationships with owners and commitment to both parties, he was able to bring a complicated off-market transaction together.  During due diligence and escrow, he and his team went above and beyond to assist both seller and buyer in locating information and understanding the asset.   Additionally, when significant title issues were identified, through his extensive contacts and experience with real estate financing, he was able to resolve these matters and push the sale to closing – all within a three-week time frame to meet our 1031 exchange deadline!  Thank you Devin and your team for making us look great.”

-Erik Lorscheider, The Lighthouse Group

This off-market transaction was a 20-day escrow and closed on July 25, 2018. Northcap Multifamily represented the Seller (Indiana, LLC).

For additional information, please contact:

Devin Lee

Northcap Multifamily

devin@northcap.com

(702) 943-1901

1127 S. Rancho Drive

Las Vegas, NV 89102

 

Northcap is a Las Vegas-based, international real estate companyfocused on acquisition, brokerage and property management. Founded by John Tippins, the company offers an array of services extending into residential and commercial property management, sales and advisory roles. As a brokerage, Northcap’s team has closed on nearly $3 billion in transactions. Northcap is a premier real estate operator that holds the distinction of being named to Forbes Travel Guide. Northcap is also actively involved in their home community with the Downtown Las Vegas Alliance, Fremont Street East Entertainment District, the City of Las Vegas, the UNLV College of Business Board, UNLV Advisory Board and Helping Hands of Vegas Valley.

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