Villate at Desert Lakes
Photo courtesy of MG Properties

Villate at Desert Lakes Photo courtesy of MG Properties

MG Properties based in Solana Beach has acquired a Las Vegas apartment complex for nearly $36.6 million.

The seller of the Village at Desert Lakes Apartments was not disclosed.

Built in 1991, the 188,360 square-foot complex at 9155 Desert Inn Road has 184 apartments that average 1,024 square feet.

“Village at Desert Lakes is a compelling value-add opportunity to reposition an asset in a dynamic market,” said Mark Gleiberman, CEO of MG Properties.

“Las Vegas continues to experience job growth and household formation which is driving demand for housing,” Gleiberman said.

Christopher Bentley, Jeffrey Swinger and Shalonda Hughes of Colliers International represented the seller.

MG Properties represented itself.

Financing was arranged by Brian Eisendrath and Cameron Chalfant of CBRE.

Real estate reporter Ray Huard may be reached at rhuard@sdbj.com or 858-277-8904.