confidential - LoopNet...Montecit o 9745 Grand Teton Dr Las Vegas May-18 336 2007 981 8.00% $ 4,800...

Maria Schifano, Schifano & Associates • 10120 S. Eastern Ave., Suite 227 • direct: (702) 300-1144 • [email protected] page 1

4.72 Acres in theSpring Mountain Corridor

Maria Schifano, Schifano & Associates10120 S. Eastern Ave., Suite 227

direct: (702) [email protected]

confidential

Maria Schifano, Schifano & Associates • 10120 S. Eastern Ave., Suite 227 • direct: (702) 300-1144 • [email protected]

confidential

subject property —

4.72 acres


4.72 Acres in the Spring Mountain CorridorOverview

Highland A Highland B

confidential


Recent Comparable Transactions: 1 of 2

confidential


Recent Comparable Transactions: 2 of 2

confidential


Recent Comparable Transactions Arranged by Cap Rate

confidential

Property Address City Month Sold No. of Units Year Built Unit Size Vacancy Per Unit OP EX Sale Price Cap Rate GIMSale Price/Unit Average Rent Rent/SF

Price/SFNRA Location Seller Buyer

The Gramercy 9255 W Russell Rd Las Vegas May-18 160 2015 1226 16.00% $ 6,200 $ 37,000,000 4.20% 10.99 $ 231,250 $ 1,754 $ 1.43 $ 188.87 SW WGH Partners LyonLivingThe Pearl at St. Rose 10250 Spencer St Las Vegas Jul-18 270 2000 966 10.00% $ 4,700 $ 41,850,000 4.53% 12.28 $ 155,000 $ 1,052 $ 1.09 $ 160.52 SE 3D Investments ConAmOasis Sierra 7001 W Charleston Blvd Las Vegas Aug-18 208 1998 923 6.00% $ 4,300 $ 36,100,000 4.56% 14.35 $ 173,558 $ 1,008 $ 1.09 $ 188.13 NW The Wolff Company Logan Capital AdvisorsGriffis Summerlin South 9550 W Sahara Ave Las Vegas Jan-18 332 1998 934 7.00% $ 4,700 $ 65,742,410 4.62% 13.74 $ 198,019 $ 1,201 $ 1.29 $ 211.91 SW Griffis Residential NNC Apartment VenturesDesert Manor 629 S Main St Las Vegas Aug-18 161 1979 286 8.00% $ 4,300 $ 11,525,000 4.72% 9.15 $ 71,584 $ 652 $ 2.28 $ 250.28 NE K&J Endeavor Tishau PartnersIsland Palms** 4521 E Bonanza Rd Las Vegas Dec-18 118 1990 901 6.00% $ 4,400 $ 10,800,000 4.73% 10.58 $ 91,525 $ 721 $ 0.80 $ 101.64 NE Bridge Prism MultifamilySouth Beach Resort 8920 W Russell Rd Las Vegas Nov-18 220 2017 1067 10.00% $ 5,000 $ 62,000,000 4.75% 13.94 $ 281,818 $ 1,685 $ 1.58 $ 264.14 SW Watt Companies Griffin CapitalElysian at Southern Highlands 12020 So. Highlands Pkwy Las Vegas Jun-18 255 2014 1304 12.00% $ 5,200 $ 64,250,000 4.85% 13.23 $ 251,961 $ 1,587 $ 1.22 $ 193.25 SW The Calida Group Logan Capital AdvisorsLotus 3616 Spring Mountain Rd Las Vegas Nov-18 295 2018 882 14.00% $ 5,200 $ 76,700,000 4.87% 13.39 $ 260,000 $ 1,618 $ 1.83 $ 294.94 SE Fore Property Co. Green Leaf PartnersHelix** 1700 Alta Dr Las Vegas Nov-18 316 1989 831 6.00% $ 4,300 $ 48,750,000 4.89% 13.32 $ 154,272 $ 965 $ 1.16 $ 185.66 NE Fairfield Residential BridgeSequoia Meadows 5301 W Pioneer Ave Las Vegas Oct-18 136 1989 1200 8.00% $ 4,300 $ 22,250,000 4.90% 12.98 $ 163,603 $ 1,050 $ 0.88 $ 136.34 SW Lewis Halpert Tishau PartnersBoca Raton (Broken Condo) 2405-2475 W Serene Ave Las Vegas Aug-18 211 2007 1228 10.00% $ 5,000 $ 44,032,000 4.91% 12.83 $ 208,682 $ 1,355 $ 1.10 $ 169.96 SE Kevin Burdette 3D InvestmentsBay Pointe** 1601 E Katie Ave Las Vegas Dec-18 128 1990 876 10.00% $ 4,500 $ 13,050,000 4.91% 10.17 $ 101,953 $ 836 $ 0.95 $ 116.40 SE Bridge Prism MultifamilyThe Grove 2901 N Rainbow Blvd Las Vegas Oct-18 256 1989 920 8.00% $ 4,400 $ 34,500,000 4.93% 12 $ 134,766 $ 936 $ 1.02 $ 146.43 NW Haven Realty Capital Bean InvestmentRochelle Manor 4340 Escondido St Las Vegas Jul-18 148 1972 548 6.00% $ 4,400 $ 7,475,000 4.95% 7.54 $ 50,507 $ 559 $ 1.02 $ 92.17 SE William Gifford Lighthouse GroupDesert Pearl** 1330 E Reno Ave Las Vegas Dec-18 90 1987 930 8.00% $ 4,500 $ 8,100,000 4.99% 9.73 $ 90,000 $ 771 $ 0.83 $ 96.76 SE Bridge Prism MultifamilyThe Crossing at Green Valley** 2312 N Green Valley Pkwy Henderson Sep-18 384 1986 860 4.00% $ 4,500 $ 59,750,000 5.01% 13.16 $ 155,599 $ 986 $ 1.15 $ 181.03 SE Acacia Capital TruAmerica MultifamilyRancho Park 5400 W Cheyenne Las Vegas Nov-18 228 1986 759 10.00% $ 4,300 $ 20,425,000 5.03% 9.97 $ 89,583 $ 748 $ 0.99 $ 117.96 NW CALCAP BridgeReflections at the Lakes** 2601 S Grand Canyon Dr Las Vegas Nov-18 326 1989 857 8.00% $ 4,400 $ 51,000,000 5.04% 12.57 $ 156,442 $ 1,037 $ 1.21 $ 182.62 SW Fairfield Residential BridgeCastile 1545 Wigwam Pkwy Henderson Apr-18 498 2018 914 8.00% $ 4,300 $ 99,600,000 5.05% 13.95 $ 200,000 $ 1,195 $ 1.31 $ 218.79 SE The Wolff Company Thompson Michie CommunitiesMontecito 9745 Grand Teton Dr Las Vegas May-18 336 2007 981 8.00% $ 4,800 $ 59,250,000 5.05% 13.61 $ 176,339 $ 1,080 $ 1.10 $ 179.74 NW Bascom Group RK PropertiesVillas at Mountain Vista** 5400 Mountain St Las Vegas Jul-18 204 1985 819 6.00% $ 4,400 $ 27,000,000 5.05% 12.14 $ 132,353 $ 908 $ 1.11 $ 161.58 SE Acacia Capital McDowell PropertiesThe Retreat** 4248 Spencer St Las Vegas Sep-18 120 1996 984 6.00% $ 4,500 $ 17,450,000 5.08% 12.24 $ 145,417 $ 990 $ 1.01 $ 147.78 SE Acacia Capital TruAmerica MultifamilyVilla Serena 325 N Gibson Rd Las Vegas Dec-18 288 1996 934 8.00% $ 4,700 $ 52,500,000 5.08% 12.78 $ 182,292 $ 1,189 $ 1.27 $ 195.16 SE Bascom Group Sunroad EnterprisesThe Townhomes at Horizon Ridge 540 W Horizon Ridge Pkwy Henderson Sep-18 296 2001 1287 10.00% $ 4,700 $ 64,100,000 5.09% 12.99 $ 216,554 $ 1,389 $ 1.08 $ 168.26 SE Security Properties Sunroad EnterprisesCenterpoint 5905 W Charleston Blvd Las Vegas Mar-18 192 2007 890 10.00% $ 4,500 $ 30,000,000 5.14% 12.03 $ 156,250 $ 1,082 $ 1.22 $ 175.54 NW Security Properties Benedict Canyon ManagementAvanti 10697 W Centennial Pkwy Las Vegas Dec-18 414 2010 928 8.00% $ 4,500 $ 67,750,000 5.16% 12.44 $ 163,647 $ 1,096 $ 1.18 $ 176.43 NW Security Properties LivCorHampton Garden 9750 Peace Way Las Vegas Mar-18 180 2001 943 8.00% $ 4,300 $ 27,550,000 5.17% 12.39 $ 153,056 $ 1,030 $ 1.09 $ 162.26 SW Ronald R Sinclair The Calida GroupXander 3900 3900 Dalecrest Dr Las Vegas May-18 480 1996 923 8.00% $ 4,600 $ 69,500,000 5.18% 11.79 $ 144,792 $ 1,023 $ 1.11 $ 156.87 NW Kennedy Wilson BlackstoneTesoro Ranch 6655 Boulder Hwy Las Vegas Dec-18 400 2007 999 10.00% $ 4,400 $ 61,688,845 5.18% 12.02 $ 154,222 $ 1,069 $ 1.07 $ 154.39 SE Continental Realty Advisors TruAmerica MultifamilyEvergreen 3060 S Decatur Blvd Las Vegas Nov-18 314 1978 665 8.00% $ 4,400 $ 29,500,000 5.19% 10.1 $ 93,949 $ 775 $ 1.17 $ 141.26 SW The Apartment Company Tower16 Capital PartnersAdobe Ranch 1350 Kelso Dunes Henderson May-18 234 2003 905 8.00% $ 4,100 $ 42,705,000 5.20% 13.3 $ 182,500 $ 1,144 $ 1.26 $ 201.73 SE Thompson Michie Communities Sunroad EnterprisesCrystal Creek** 3001 Warm Springs Rd Henderson Jul-18 528 1990 950 6.00% $ 4,600 $ 77,750,000 5.20% 12 $ 147,254 $ 1,023 $ 1.08 $ 155.05 SE Acacia Capital McDowell PropertiesIcon at 2900 2900 El Camino Ave Las Vegas Dec-18 312 1977 812 10.00% $ 4,400 $ 32,000,000 5.22% 10.09 $ 102,564 $ 847 $ 1.04 $ 126.37 SW McDowell Properties FPA MultifamilyWinsome West 5050 Duneville St Las Vegas Apr-18 228 1986 823 10.00% $ 4,500 $ 24,000,000 5.23% 10.21 $ 105,263 $ 860 $ 1.04 $ 127.96 SW Gilbert Barbieri Tower16 Capital PartnersCornerstone Crossing 6666 W Washington Ave Las Vegas Oct-18 540 1984 678 5.00% $ 4,500 $ 49,750,000 5.23% 10.54 $ 92,130 $ 729 $ 1.08 $ 135.89 NW Prime Group Tower16 Capital PartnersDesert Ridge 7055 E Lake Mead Blvd Las Vegas Apr-18 304 1989 847 8.00% $ 4,400 $ 30,750,000 5.25% 10.43 $ 101,151 $ 809 $ 0.96 $ 119.37 NE Sundance Capital OpenPath InvestmentsCypress Springs 3651 N Rancho Dr Las Vegas Jun-18 144 1994 958 12.00% $ 4,600 $ 15,000,000 5.26% 9.55 $ 104,167 $ 909 $ 0.95 $ 108.73 NW Steven Donia Alpha Wave InvestorsSolis at Flamingo 3275 E Flamingo Rd Las Vegas Jun-18 521 1988 829 12.00% $ 4,600 $ 72,000,000 5.28% 10.87 $ 138,196 $ 1,059 $ 1.28 $ 166.78 SE TruAmerica ConAmDesert Rose 29 N 28th ST Las Vegas Jul-18 236 1978 296 6.00% $ 4,200 $ 9,000,000 5.30% 6.38 $ 38,136 $ 498 $ 1.68 $ 129.00 NE Shomof Group MaxWell InvestmentThe Boulevard** 3050 S Nellis Blvd Las Vegas Jul-18 296 1998 880 8.00% $ 4,700 $ 29,000,000 5.30% 9.58 $ 97,973 $ 852 $ 0.97 $ 111.36 SE Acacia Capital McDowell PropertiesPromenade at Sahara 4801 E Sahara Ave Las Vegas Jan-18 312 1983 878 8.00% $ 4,300 $ 23,300,000 5.31% 9.11 $ 74,679 $ 683 $ 0.78 $ 85.06 SE Prime Group 29th Street CapitalSandpebble Village 4480 Sirius Ave Las Vegas May-18 280 1980 737 10.00% $ 4,700 $ 21,100,000 5.35% 8.35 $ 75,357 $ 752 $ 1.02 $ 102.27 SE Dimitry Piterman Wilshire UnlimitedEstates at Westernaire 3975 N Nellis Rd Las Vegas Jun-18 336 1995 999 12.00% $ 4,500 $ 29,900,000 5.44% 8.95 $ 88,988 $ 828 $ 0.83 $ 89.04 NE Mabry Milton BridgeFalcon Landing 5067 Madre Mesa Dr Las Vegas Aug-18 198 2008 956 6.00% $ 4,600 $ 27,275,000 5.47% 11.47 $ 137,753 $ 1,001 $ 1.05 $ 144.15 NW Michael Talbott Interwest CapitalSilver Creek (Affordable) 6170 Boulder Hwy Las Vegas Jun-18 224 2003 995 10.00% $ 4,500 $ 26,000,000 5.48% 10.51 $ 116,071 $ 921 $ 0.93 $ 116.94 SE 3D Investments OpenPath InvestmentsPaseo Del Prado (Affordable) 740 E Warm Springs Rd Henderson Feb-18 120 1996 715 8.00% $ 4,200 $ 10,200,000 5.50% 9.32 $ 85,000 $ 760 $ 1.06 $ 118.85 SE 3D Investments Peak Capital PartnersUltris Arrow Canyon 5005 Losee Rd Las Vegas Feb-18 426 2007 1076 10.00% $ 48,000 $ 59,650,000 5.50% 10.81 $ 140,023 $ 1,080 $ 1.00 $ 130.15 NE Westdale Asset Management Hamilton Zanze & CompanyFoothill Village 6255 W Tropicana Las Vegas Jun-18 512 1977 1001 10.00% $ 4,700 $ 50,000,000 5.51% 9.51 $ 97,656 $ 856 $ 0.86 $ 97.52 SW Joseph Biasco Tower16 Capital PartnersBridge Landing** 4000 E Bonanza Rd Las Vegas Dec-18 144 1990 938 10.00% $ 4,500 $ 14,850,000 5.52% 9.55 $ 103,125 $ 900 $ 0.96 $ 109.98 NE Bridge Prism MultifamilyAviata 2121 E Warm Springs Las Vegas May-18 456 1998 989 12.00% $ 4,600 $ 67,000,000 5.53% 10.86 $ 146,930 $ 1,127 $ 1.14 $ 148.58 SE Heers Management TruAmerica MultifamilySanta Fe 3955 E Charleston Blvd Las Vegas Jan-18 145 1988 863 7.00% $ 4,500 $ 11,500,000 5.62% 8.83 $ 79,310 $ 749 $ 0.87 $ 91.94 NE Ernest Suber Sr Phillips P YeeSorrento Villas 3580 E Alexander Las Vegas Feb-18 236 2000 944 10.00% $ 4,500 $ 25,960,000 5.73% 9.92 $ 110,000 $ 924 $ 0.98 $ 116.47 NE The Reliant Group Aspen Square ManagementAmber Ridge 346 Sturgeon Ln Las Vegas Feb-18 308 1985 844 8.00% $ 4,400 $ 21,000,000 5.82% 8.07 $ 68,182 $ 704 $ 0.83 $ 80.76 NE Elandis Westland GroupThe Borgata (Broken Condo) 4400 S Jones Las Vegas Jul-18 205 1998 931 12.00% $ 4,700 $ 21,500,000 5.83% 8.93 $ 104,878 $ 978 $ 1.05 $ 112.68 SW Wasatch Group Pacifica CompaniesCambridge 3875 Cambridge St Las Vegas Jan-18 210 1974 935 10.00% $ 5,100 $ 22,500,000 5.90% 9.01 $ 107,143 $ 991 $ 1.06 $ 114.60 SE The Calida Group Daniel HickDecatur Point 1760 N Decatur Blvd Las Vegas Apr-18 100 1978 954 8.00% $ 4,400 $ 8,200,000 5.91% 8.61 $ 82,000 $ 794 $ 0.83 $ 85.94 NW Xiaoqiao Zhang Reid P MartinGolden Pond University 1450 E Harmon Ave Las Vegas Aug-18 241 1977 300 8.00% $ 4,100 $ 8,155,000 5.97% 5.64 $ 33,838 $ 500 $ 1.67 $ 112.79 SE Raymond Antonneau 3D InvestmentsLiberty Village** 4870 Nellis Oasis Ln Las Vegas Aug-18 720 1987 950 8.00% $ 4,500 $ 44,300,000 6.06% 7.31 $ 61,528 $ 702 $ 0.74 $ 64.75 NE Shamrock Communities Westland GroupMark I 1020 E Desert Inn Las Vegas Feb-18 114 1975 875 10.00% $ 5,000 $ 15,870,000 6.20% 9.61 $ 139,211 $ 1,207 $ 1.38 $ 159.18 SE Property Management & Development Strategic Realty CapitalVillage Square** 5025 Nellis Oasis Ln Las Vegas Aug-18 408 1986 400 8.00% $ 4,500 $ 16,000,000 6.33% 5.45 $ 39,216 $ 600 $ 1.50 $ 98.04 NE Shamrock Communities Westland GroupLas Brisas de Cheyenne 3985 E Cheyenne Las Vegas Jun-18 176 1999 695 12.00% $ 4,700 $ 12,425,000 6.37% 7.03 $ 70,597 $ 837 $ 1.20 $ 101.61 NE MKL Capital 3D InvestmentsCity Center** (Affordable) 811-821 E Bridger Ave Las Vegas Mar-18 300 2003 369 8.00% $ 4,300 $ 19,000,000 6.50% 7.45 $ 63,333 $ 708 $ 1.92 $ 171.76 NE VRG Management Services Veneto Capital ManagementStewart Villas** (Affordable) 2611 Stewart Ave Las Vegas Jan-18 114 1962 1007 14.00% $ 5,800 $ 5,000,000 7.30% 4.86 $ 43,860 $ 752 $ 0.75 $ 43.56 NE GSL Properties Langdon Street CapitalHilltop Villas** (Affordable) 601 N 13th St Las Vegas Jan-18 111 1963 887 14.00% $ 4,600 $ 4,000,000 7.58% 4.37 $ 36,036 $ 687 $ 0.77 $ 40.62 NE GSL Properties Langdon Street Capital


Points of Interest: Greater Las Vegas Area

confidential

Summerlin 4 mi

3 mi

2 mi

LV Convention Center

1 mi

The Strip

Airport

UNLV

Chinatown

NFL Raiders Stadium

DowntownLas Vegas

Point of Interest Distance from Projects

The Las Vegas Strip Less than 1 mile

Chinatown Less than 1 mile

Convention Center Less than 3 miles

NFL Raiders Stadium Less than 3 miles

UNLV Less than 3 miles

Airport 3 miles

Downtown Las Vegas 4 miles


Local Public Transportation• 87,000 vehicles per day at intersection of Spring Mountain

Road and Valley View Boulevard

• Immediate access to two major thoroughfares in the Las Vegas Area: Spring Mountain Road and Valley View Boulevard

• Both thoroughfares boast strong daily traffic counts and local bus routes that allow for easy access to much of the local area.

confidential

702 • 228 • RIDE (7433)

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Transit MapE�ective: December 2, 2018

Mapa de Transporte Público

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Weekday Daytime FrequencyApproximation

Frequencia entre semanaAproximadamente

Evening, early morning, Saturday & Sunday frequencies may vary.La frequencia en las tardes, mañanas, sábados y domingos puede variar.

Every 15 MinutesCada 15 minutos




NO STOPSNo paradas

Boulder Highway Express

Centennial Express

Henderson & Downtown Express

Strip & Downtown Express

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Sahara Express-B (via Vegas Valley)

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NOTA: , , y tienen menor númerode paradas. Por favor, consulte la Guía de Transporte Público o visite rtcsnv.com para más información.

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Street 2017 2016

Spring Mountain Rd (W-E) 61,000 59,000

Valley View Blvd (N-S) 26,000 25,000

Twain Ave (W-E) 21,000 19,000 ̂Source: Nevada Department of Transportation


Las Vegas: Key Data

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MULTIFAMILY ECONOMIC

Occupancy in stabilized properties was 95.2% in June 2018. 0% State Income Tax

Growing demand for multifamily units exceeding rate of unit delivery. #1 in job growth creation; 3.3% YoY

Rent growth 2nd largest nationally, at +5.8% YoY through July 2018 to $1,108.• National rate is +2.8% YoY, national rent average is $1,409.

Unemployment in LV-Paradise metropolitan area was 4.7% in July 2018, down from 5.4% YoY.

1,655 multifamily units delivered in 2018 through July, 1.0% of total stock (30 basis points below national average)

6 projects totaling over $10 billion, scheduled to open by 2020.• $1.9b Raiders Stadium, 65k seats• $1.4b Convention Center expansion• Madison Square Garden 18,000 -seat spherical arena on the Strip• Drew LV Fontainebleau ~4,000 rooms• $3b Resorts World, ~3000 rooms• Wynn, Paradise Park, ~1500 rooms

A notable trend: many Californians are moving to Las Vegas due to the relative affordability compared with California.

27,700 new jobs added in metro YoY through May 2018, up +2.6% (US average +1.7%). Construction Workers Needed.

$1.1b in assets trading through June 2018• Average Las Vegas Sale Price per Unit rose by 14.6% in 2018, but still

trails the national average by 15.2%, suggesting more room for growth.

Over next 5 years, more than 15,000 new construction jobs will become available.

Many corporate HQ’s moving to Las Vegas

4.1% projected wage growth in 2018


Las Vegas Market: Visitation• Las Vegas visitation is growing steadily and set a new peak

in 2016.

• Visitation numbers have recovered since the financial crisis and grown beyond pre- 2007 levels.

• From 2009 through 2015, the compounded annual growth rate (CAGR) of Total Visitors to Las Vegas has been +2.6%

Source: LVCVA (Las Vegas Convention & Visitors Authority)

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30

32

34

36

38

40

42

44

Las Vegas Visitor Volume (millions)

Visitor Volume


Las Vegas Market: Lodging• Despite the growth in visitation, the number of hotel

rooms in Las Vegas has remained relatively stagnant over the past 7 years.

• With limited room supply growth since 2010 and demand out pacing supply, occupancy rates are approaching historical highs. Las Vegas visitation is growing steadily and set a new peak in 2016.

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-2%

-1%

0%

1%

2%

3%

4%

5%

6%

7%

Room Supply YoY% Change

^ Source: LVCVA (Las Vegas Convention & Visitors Authority)^ Source: LVCVA (Las Vegas Convention & Visitors Authority)

80%

82%

84%

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88%

90%

92%

94%

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100%

100

110

120

130

140

150

160

2000 2002 2004 2006 2008 2010 2012 2014 2016

Thou

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s

Room Inventory & Occupancy Rates

Total Room Supply Room Occupancy (%)


Las Vegas Market: Conventions• Las Vegas continues to be a strong market for conventions,

showing continued growth in both number of conventions held and number of attendees.

• Over the last 5 years, LVCVA polling shows that about half of convention visitors became more interested in attending a convention if it was held in Las Vegas versus elsewhere. Less than 2% of visitors were less interested in the convention due to it being held in Las Vegas.

• About a third of convention attendees bring along someone else who is not attending the convention, suggesting that conventions are a strong source of additional increased visitation.

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2011 2012 2013 2014 2015 2016

Thou

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Milli

ons

Convention Attendance

Convention Attendees (millions) Conventions Held (Thousands)^ Source: Goldman Sachs

0%

10%

20%

30%

40%

50%

60%

70%

2012 2013 2014 2015 2016

Interest in Attending Las Vegas Conventions

More Interested No Difference Brought Someone Who Did Not Attend

^ Source: LVCVA

19

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20

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4

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2011 2012 2013 2014 2015 2016

Thou

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Mill

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Convention Attendance

Convention Attendees (millions) Conventions Held (Thousands)^ Source: Goldman Sachs

0%

10%

20%

30%

40%

50%

60%

70%

2012 2013 2014 2015 2016

Interest in Attending Las Vegas Conventions

More Interested No Difference Brought Someone Who Did Not Attend

^ Source: LVCVA


Las Vegas Market: Employment• Las Vegas is showing strong numbers across several important

economic indicators, suggesting that the city has recovered from the downturn and promises strong future growth.

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2011 2012 2013 2014 2015 Indicators 2016 2017 2018 2019 2020 2021

81.8 81.8 82.1 85.9 88.9 Gross Metro Product (C $B) 91.2 95.0 99.6 103.7 106.8 109.7

0.0 0.0 0.4 4.6 3.5 % Change 2.6 4.1 4.9 4.1 3.0 2.7

808.5 824.8 849 884 916.6 Total Employment (ths) 941.8 971.2 1,004.2 1,032.2 1,044.5 1,047.2

0.6 2.0 2.9 4.1 3.7 % Change 2.7 3.1 3.4 2.8 1.2 0.3

13.2 11.2 9.5 7.9 6.8 Unemployment Rate (%) 6.2 5.9 5.2 4.8 5.0 5.7

2.8 6.4 -0.3 6.1 5.9 Personal Income Growth (%) 4.5 5.4 7.1 6.8 5.6 4.7

50.4 50.1 50.8 51.0 51.6 Median Household Income ($ ths) 52.5 53.9 56.1 57.9 59.4 60.5

1,967 1,998 2,028 2,069 2,115 Population (ths) 2,166 2,223 2,280 2,338 2,396 2,455

0.7 1.6 1.5 2.0 2.2 % Change 2.4 2.6 2.6 2.5 2.5 2.5

1.0 18.5 17.7 27.9 32.8 Net Migration (ths) 40.0 44.7 45.6 46.0 46.2 46.9

3,817 6,108 7,067 6,809 7,805 Single-family Permits 8,723 12,376 17,378 19,377 17,587 17,715

1,330 1,267 1,506 3,227 2,800 Multi-family Permits 4,474.5 5,606.7 7,705.2 7,847.9 6,873.5 7,329.6

104 103 123 103 159 FHFA House Price (1995Q1=100) 172 181 185 186 186 190

^ Source: CBRE


Local Employment Snapshot• 27,700 new jobs added YoY through May 2018, overall up

2.6% (National Average was 1.7%)

• Unemployment rate reduced to 4.4% (National Average was 3.8%)

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Employment Sector # Employees % Share YoY Change [#] YoY Change [%]

Government 109,000 10.8% +6,200 +6.1%

Trade, Transportation, Utilities 178,000 17.7% +5,900 +3.4%

Mining, Logging, Construction 63,000 6.3% +3,900 +6.6%

Education and Health Services 100,000 10.0% +3,800 +4.0%

Leisure and Hospitality 296,000 29.5% +2,600 +0.9%

Other Services 33,000 3.3% +1,800 +5.7%

Professional and Business Services 140,000 13.9% +1,700 +1.2%

Financial Activities 52,000 5.2% +1,300 +2.6%

Manufacturing 24,000 2.4% +1,200 +5.2%

Information 24,000 1.1% -700 -5.9%

Major Employers Employees Type of Business

MGM Resorts International 53,157 Resort Entertainment

Caesars Entertainment 30,000 Entertainment, Hospitality

Station Casinos 14,000 Gaming, Hospitality

Wynn Las Vegas 12,000 Resort/Casino

Boyd Gaming Corp 11,700 Casino Entertainment

Las Vegas Sands Corp 8,600 Integrated Resorts

The Valley Health System 7,463 Health Care

McDonald’s Greater Las Vegas Operator Association

5,250 Fast Food

The Cosmopolitan of Las Vegas 5,008 Resort

Southwest Medical Associated / United Healthcare

4,808 Health care provider, insurance provider

Dignity Health-St. Rose Dominican 3,813 Health system

UNLV ** 3,900 Education

South Point 2,649 Hotel, casino, spa, event facility

Cox Communications 1,500 Cable telecommunications

NV Energy 1,455 Electric utility

Scientific Games 1,200 Gaming technology and manufacturing

CenturyLink 660 Telecommunications provider

March 2017 Data; ** 2018 Data^ Source: VEGAS INC research, UNLV

^ Source: YardiMatrix

Confidentiality StatementThis presentation and the information contained herein are furnished on a confidential basis to the recipient, and no part of this presentation shall be disclosed to others without the prior express written consent of Schifano & Associates.

This document is for informational purposes only and does not constitute an offering solicitation for securities Information contained herein does not purport to be complete and should not be relied upon for the purpose of making an investment in the properties or entering into any transaction in relation therewith.

Although the information herein has been reviewed by Schifano & Associates and is believed to be accurate, Schifano & Associates disclaims liability for, and makes no expressed or implied representation or warranty, with respect to, any information contained in or omitted from this presentation, or any other written or oral communication transmitted to any prospective investor.

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Maria Schifano, Schifano & Associates10120 S. Eastern Ave., Suite 227

direct: (702) [email protected]

confidential - LoopNet...Montecit o 9745 Grand Teton Dr Las Vegas May-18 336 2007 981 8.00% $ 4,800...

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Transcript of confidential - LoopNet...Montecit o 9745 Grand Teton Dr Las Vegas May-18 336 2007 981 8.00% $ 4,800...