Property Description

The Property, “Ely at Hughes Center” is a multifamily apartment complex located in Las Vegas, NV. Developed in 2020, the Property consists of 6.08 acres of land upon which two residential buildings are situated, housing a total of approximately 351,081 rentable square feet across 368 apartment units. The Property includes amenities such as a 22,000 square foot clubhouse, outdoor seating areas with large TVs, a resort-style pool with private cabanas, a dog park, and a comprehensive resident health, wellness and lifestyle suite, among others. As of February 23, 2022, the Property was 91.6% leased. 

Every unit includes 9-foot ceilings, contemporary designer fixtures and hardware including upgraded cabinetry and quartz countertops in all kitchens and bathrooms, stainless steel appliances, over-sized tubs, full size showers, spacious balconies offering pool, courtyard and Strip views and state-of-the-art LED lighting throughout. 

Property Type

Multifamily

Structure

Delaware Statutory Trust

NexPoint
Hughes DST

NV

Remaining Availability

22% Remaining
Total Funds
$204,896,632
Remaining Availability
$25,000,000
Minimum Investment
$100K
Funded To Date
$90,262,632
Est. Hold Period
See PPM
Leverage
43.75%
Equity Raise
$115,262,632
Price/SF or Price/Unit
$556,787/Unit

For More Details

 
 
 

Location Details

 
 
 

Population

417,090

Population Growth

1.6%

About The Area

The Property is located in the Las Vegas MSA, a thriving market supported by tourists and residents in the region’s thriving shopping and convention sectors. 

 

Sponsor

NexPoint is a leading alternative investment advisor. NexPoint manages a suite of products that provide access to differentiated investment opportunities. The NexPoint product suite covers a range of vehicles, including listed REITs, real estate private placements, 1031 Exchanges, closed-end funds, a business development company (BDC), and interval funds. NexPoint is part of a multibillion- dollar investment platform that serves both retail and institutional investors worldwide. While NexPoint’s focus areas include real estate and alternative credit strategies, its products draw on expertise and capabilities from across the platform, which spans a range of asset classes and investment strategies.

An affiliate of the Manager, NexPoint and its affiliates have accumulated a significant portfolio of core-plus and value-add multifamily property through a series of opportunistic acquisitions since 2012. From 2012 through December 31, 2019, NexPoint Real Estate Advisors and its affiliates invested in 139 multifamily real estate transactions with total gross real estate value exceeding $5.02 billion. During this period, NexPoint has completed approximately 8,250 full and partial value add rehabs on unit interiors within its portfolio.

NexPoint Real Estate Advisors, IV, L.P. (the “Sponsor”) serves as a sponsor to the platform’s newest offering, NexPoint Flamingo DST.