LAS VEGAS, NV – San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Norterra Canyon in North Las Vegas, NV. The firm bought the property in 2018, through a joint venture with a subsidiary of Cantor Fitzgerald Investors and the sale closed on April 27, 2021. The transaction marks the firms ninth sale in Las Vegas and first DST disposition.
Norterra Canyon was built in 2007 and is located at 5005 Losee Road in North Las Vegas. The property comprises 426 one-, two-, and three-bedroom units averaging 1,076 square feet. Units feature granite countertops, energy star appliances, walk-in closets, patios and balconies, and washers and dryers. Community amenities include a resident lounge, business center, bocce ball, two resort-style pools with cabanas, putting green, and fitness center.
During their ownership, Hamilton Zanze improved resident amenities, including enhancements to the pool area and clubhouse, and completed unit renovations by installing faux wood flooring and upgraded lighting fixture to improve leasing efforts and increase rental rates. At the time of sale, Norterra Canyon was 95% occupied.
“The Las Vegas market is as strong as it’s ever been,” said Anthony Ly, director of dispositions at Hamilton Zanze. “Population growth coupled with strong supply and demand fundamentals allowed us to do our business plot and for the property to thrive.”
“The timing was just right,” said Chris Milner, Head of Cantor Fitzgerald Investment Management. “The profitable sale of the property allowed us to deliver an attractive return for our investors.”
Norterra Canyon is located in the North Las Vegas submarket of the Las Vegas metro area. Despite stay-at-home orders brought on by the coronavirus pandemic, the economy has started to rebound as unemployment rates continue to decrease. Occupancy in the submarket registered 96.5% and demand in the Las Vegas metro outpaced supply 4,947 units to 2,875 units as of Q4. Annually, rent performance was strongest in the North Las Vegas submarket, registering at 6.9% year-over-year. After the effects of the pandemic subside, economic and job growth are projected to continue in the metro. Norterra Canyon is located 8.0 miles (18-minute drive) north of Downtown Las Vegas, providing direct access to major employers and entertainment.

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GREENSBORO, NC – Bell Partners, one of the nation’s leading apartment investment and management companies, has bought Century Plantation Pointe, a 260-unit apartment community located in Mooresville, N.C. The property, bought on behalf of the firm’s Fund VII investors, will be renamed Bell Lake Norman, and will become the 79th property Bell Partners currently owns or manages in its home state of North Carolina.
Built in 2014, Bell Lake Norman is a garden-style apartment community positioned along the I-77 corridor. The community offers residents access to several major employment centers including Uptown Charlotte, Huntersville, Cornelius and Davidson. Over the past decade, Mooresville has witnessed a diversification of its economy, and has seen an expansion of major industries including manufacturing, healthcare, financial services, logistics and distribution, information technology, and agriculture. Major employers close to the community include Lake Norman Medical Center, NGK Ceramics USA, BestCo, Pactiv Corporation, and the corporate headquarters of Lowe’s.
Bell Lake Norman also provides convenient access to lifestyle amenities centered around the highly desirable Lake Norman – the largest lake in North Carolina. Nearby local retailers include Publix, Harris Teeter, Sam’s Club, and dozens of local and national eateries.
“The acquisition of Bell Lake Norman represents a continuation of our strategy to buy quality properties in growing submarkets of our target markets where we can make additional value by making physical improvements to common areas and apartment interiors,” said Nickolay Bochilo, EVP of Investments at Bell Partners. “The Charlotte region continues to experience significant growth driven by job relocations, lower cost of living and a warm climate, which should support favorable growth in renter demand during our investment period.”
Bell Lake Norman’s community amenities include a coffee shop, saltwater pools with an outdoor kitchen, a community clubhouse with a lounge, a fitness center, a pet washing station, a car care center, an onsite clothing care facility, and 24/7 package access with Amazon HUB Lockers. Each unit has private patios, washer and dryer connections, walk-in closets, sleek black appliances, and ceiling fans in bedrooms and living rooms. Bell Partners closely follows guidelines from local, state and federal health authorities regarding the operation and cleanliness of community amenities.
Bell Lake Norman has also earned Green Globes Multifamily for Existing Buildings Certification.

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FORT COLLINS, CO – Brickstone Partners, a full-service real estate investment and development firm located in Nashville, Tenn., announced the $81 million acquisition and renovation of 288 units comprised of the Landmark and Stone Creek apartment communities adjacent to Colorado State University.
Brickstone will embark on a comprehensive upgrade of the properties, which combined feature 288 apartment homes. The upgrades will modernize the 1986-built units and include new flooring, modern kitchen and bathroom cabinets, quartz countertops, stainless steel appliances, upgraded doors, new lighting and plumbing fixtures, exterior landscaping, common-area improvements and clubhouse finishes.
“We are excited to add these assets to our extensive Colorado student housing portfolio. The communities are some of the best located student housing near CSU and we welcome the opportunity to upgrade these communities to better fit the active, energetic lifestyle of the neighborhood,” said Daniel Otis, founder and principal at Brickstone Partners. “Fort Collins has been featured as one of the best places to live in the country in numerous national publications for a reason – it’s an incredible place to live and to attend college. CSU continues to make strategic macro investments in their student body and campus. This strong continued investment has made notable growth both for the college and the community.”
Landmark and Stone Creek are just minutes from campus and provide quick access to numerous dining, shopping and entertainment destinations. Among the nearby well loved attractions are Canvas Stadium, home to the CSU Rams football team; North Campus West retail district; and the $313 million Foothills Mall anchored by H&M and Nordstrom Rack.
The communities are highly amenitized and include heated saltwater pools, club-quality fitness centers, dog parks and numerous outdoor spaces.
“When our renovations are complete, Landmark and Stone Creek will offer a premier living experience that exceeds the expectations of our residents,” Otis said. “This investment is a continuation of our core investment philosophy: To invest in opportunities that have asymmetric risk and reward, whereby, generating opportunistic yields with less risk than normal.”
Brickstone’s acquisition of the two communities comes on the heels of the company’s completion of LakeHaus, a $115 million, 200-unit luxury multifamily development in Minneapolis, Minn., and The Lodge, a 371-bed student housing value-add acquisition in Boulder, Colo., near the University of Colorado. Brickstone is one of the largest student housing operators in Boulder, Colo.

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