LAS VEGAS, NV – MG Properties, a leading real estate investment and management company, announced the $64 million acquisition of The Pearl at St. Rose, a premier garden-style property located within the desirable Silverado Ranch master-plotted community in Las Vegas, Nevada. The closing marks MG Properties’ ninth multifamily acquisition over the past twelve months, comprising 3,250 units and totaling over $1 billion.
The Pearl at St. Rose is a 270-unit apartment community situated along the St. Rose Corridor in South Las Vegas, offering residents simple access to a wide variety of local retail and amenities, as well as convenient transit to employment centers throughout the Las Vegas Valley. Built in 2000, the property features spacious floor plans, modern interior finishes, and a range of lifestyle amenities including a pool and spa, fitness center, dog park, and resident clubhouse.
“We are excited to expand our presence in Las Vegas and further leverage the efficiency of our regional operations there,” said Jeff Gleiberman, President of MG Properties. “Given continued economic expansion and diversification coupled with limited future supply, we are very bullish on the long-term fundamentals and growth potential of the market.”
The seller, an affiliate of The CONAM Group, was represented by Charles Steele, John Cunningham, and Jared Glover of Berkadia. Financing for the transaction was provided by Freddie Mac and arranged by Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino, and Michael Beach of Berkadia.

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LAS VEGAS, NV – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, announced the financial closing and groundbreaking of a $133 million, 390-unit luxury residential community in Las Vegas, developed in partnership with Haseko North America, the U.S. subsidiary of Japan s largest condominium construction firm.
Located at the northeast corner of West Maule Ave. and Gagnier Blvd., the site is directly across from the Durango Casino & Resort and adjacent to The UnCommons, a premier mixed-use destination featuring upscale apartments, retail, dining and Class-A office space.
This marks The NRP Group s third groundbreaking in Las Vegas this year, underscoring the firm s strategic expansion into one of the fastest-growing cities in the U.S. The firm s rapid expansion reflects strong confidence in the region s long-term rental housing market, driven by robust job growth and sustained year-over-year in-migration patterns.
This development is a premier example of NRP s market-rate luxury portfolio, said The NRP Group Vice President of Development Mike Moriarty. Its proximity to the Durango Casino and The UnCommons, combined with right walkability outside the Strip, makes it a rare and highly desirable location. From the luxury finishes to the thoughtfully curated amenities, this community will serve as our flagship in Las Vegas and set a new standard for upscale living in the region.
Located in the Spring Valley submarket along I-215, the community offers convenient access to major employment hubs and some of the largest companies in Las Vegas, including DraftKings, EY, BDO, Berkadia, CBRE, Morgan Stanley, Newmark, Sotheby s and Deloitte. Residents will be just a 10-minute drive from the Las Vegas Strip and 12 minutes from Harry Reid International Airport.
The four-tale, single-building development will comprise a mix of studio, one-, two-, and three-bedroom residences designed for premium comfort and flexibility. Each home will include high-end finishes such as stainless steel appliances, quartz countertops, designer cabinetry, wood-style flooring, and in-unit washers and dryers.
Residents will delight in a suite of resort-style amenities, including a swimming pool, two landscaped courtyards, a 24-hour fitness center, indoor bicycle storage with a repair station, an indoor pet wash and a 575-space parking garage. The property s clubhouse will offer a community kitchen, coffee station, pool table, and a multi-sport simulator. The building s design emphasizes warm tones and a sophisticated, modern aesthetic to promote wellness, walkability and connection.
Our partnership with The NRP Group reflects Haseko s commitment to aligning with best-in-class developers who share our vision for making transformative communities, said Haseko North America President and Chairman Kain Matsumoto. This project is a strategic milestone for us, combining thoughtful design, walkable urban plotting and long-term value creation in one of the most dynamic housing markets in the country. We re proud to collaborate on what will become a flagship destination for luxury living in Las Vegas.
The location of this community is truly exceptional, offering walkable access to entertainment, dining and employment in a way that s rare outside the Las Vegas Strip, said Laurie Mathers, Haseko North America Head of Investment and Asset Management. With nearby lifestyle and entertainment destinations just steps away, residents will delight in a blend of convenience, sophistication, and connectivity within their new homes. This development is a perfect example of how smart site selection and elevated design can redefine urban living.
Las Vegas remains a priority market for The NRP Group. The firm recently broke ground on North & Valley, a 105-unit affordable housing community in North Las Vegas, and Miraluna, a Class-A, 342-unit apartment located near the Southern Highlands Master-Plotted Community. By year-end, nearly 1,200 units across four developments in the Las Vegas market will be under construction. The NRP Group has developed more than 62,000 apartment homes since 1994, and currently manages over 30,000 residential units across the U.S.
The NRP Group broke ground on the new residential housing development this month, with completion scheduled for Q3 2027.

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SEATTLE, WA – Security Properties, the leading real estate investment firm in the Pacific Northwest, has completed one of the largest multifamily acquisitions in the Seattle area so far this year, purchasing a five-property, 903-unit Seattle portfolio from Washington Holdings for $400.8 million.
The sale includes Liza Eastlake, The Hemlock, The Hayes on Stone Way, Carter on the Park, and Heron Flats & Lofts. These high-quality assets are in some of Seattle’s most desirable and well-connected neighborhoods, which benefit from immediate proximity to major regional employers. Eastdil Secured represented the seller in the transaction.
“This acquisition underscores our long-term commitment to Seattle and the Pacific Northwest,” said Dan Byrnes, Chief Executive Officer of Security Properties. “These communities are in neighborhoods where our team members live, where we have deep local knowledge, and where we see exceptional long-term value. This is our second acquisition from Washington Holdings this year, and they have an outstanding reputation for delivering and preserving high quality assets. We’re excited to continue the stewardship and provide unmatched living experiences to Seattle residents.”
The transaction comes at a time when Seattle’s multifamily fundamentals remain strong despite national headwinds as units under construction in the metro area continue to drop. With new supply constrained and targeted submarkets experiencing a tangible boost from return-to-office trends, Security Properties sees a clear opportunity to secure high-quality assets positioned for long-term performance.
Mark Bates, newly appointed Chief Investment Officer of Security Properties, noted the strategic and operational significance of the deal. “This acquisition not only strengthens our Seattle portfolio but also demonstrates our ability to do complex transactions that require creative capital structures and trusted capital relationships,” Bates said. “It’s a clear example of our team’s ability to deliver for our partners and something we have been working towards for the past year.”
Bates stepped into his new role as CIO earlier this summer with a focus on streamlining Security Properties’ product offerings to investors.
“Our goal for this year is to make a structure that breaks down barriers between our product types — market rate, affordable, and development — so we can better match the right capital with the right investment opportunities,” said Bates. “My focus is on making our investment platform more interconnected, efficient, and responsive to our partners.”
The acquisition builds on a busy first half of the year for the company. In the spring, Security Properties sold the last asset bought from the Security Properties Multifamily Fund II, an investment vehicle which launched in late 2013 and held 13 assets. The fund delivered strong returns, generating an IRR of 27.2% and an equity multiple of approximately 3.3x. The performance is an example of the diversified, value-add investment strategy that defines the Security Properties platform. The team has a demonstrated track record of their ability to underwrite with precision, considering factors such as incoming supply, historical and in-place operating performance, and asset-specific locational and demand drivers that support long-term value creation.
The company plans to extend this formula and market expertise as they continue to expand nationally with a focus on key markets such as Denver, Nashville, the Bay Area and others. The company is doubling down in markets where they have a competitive edge through deep relationships, local intelligence, and the ability to source off-market opportunities. “Our approach is precise and data-driven,” Bates said. “Whether in Seattle or in other target metros, we are committed to finding the right investments for our partners, assets that can outperform through thoughtful acquisition, strong operations, and a long-term view.”
Byrnes said this evolution is critical to keeping Security Properties at the forefront of multifamily investing. “Our investors include some of the largest institutions in the world, and we embrace the challenge of delivering best-in-class opportunities and results,” he said. “Scale matters in this business, and this transaction is a milestone in our ability to deliver that level of service and performance.”

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