LAS VEGAS, NV – San Diego-based Tower 16 Capital Partners has successfully sold Altura on Duneville, a 228-unit apartment project located in Las Vegas. The property was originally bought in 2018 for $24,000,000 and was sold this month for $35,500,000. During their two-year hold, the company performed significant exterior and interior unit renovations, adding several amenities including a new leasing office, gym, business center and game room.
“Altura on Duneville was a phenomenal project in a fantastic location in Las Vegas,” said Tower 16 Co-Founder Mike Farley, “We place a lot of hard work into repositioning the property in order to make value for the residents, the neighborhood and our investors.”
Tower 16 has amassed a portfolio of close to 2,000 apartment units since first entering the Las Vegas market in April 2018. “We believe that Las Vegas will continue to be a strong market for multifamily investments due to the growing job base and reasonable cost of living,” said Tower 16 Co-Founder Tyler Pruett. “I reckon you’ll see us continue to be an active buyer in the market for those reasons.”
Altura on Duneville Apartments is located at 5050 Duneville Street, within a few miles of the Las Vegas Strip in the Spring Valley submarket. It includes 228 one- and two- bedroom apartments. Community amenities include two swimming pools, a newly renovated leasing office and on-site daycare.

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ORLANDO, FL – Wood Partners, a national leader in multi-family real estate development and acquisition, announced the grand opening of its newest luxury residential community, Lake House by Alta, in Orlando, Florida.
Located in the affluent Doctor Phillips neighborhood, Lake House by Alta features 299 luxurious lakefront apartment homes, a majority of which offer direct views of gorgeous Spring Lake. The upscale community is situated at the intersection of Turkey Lake Road and W. Sand Lake Road, better known as “Restaurant Row,” just steps away from many of Orlando’s premier dining, shopping and entertainment venues.
“With its irreplaceable lakefront location, convenience to ‘Restaurant Row’ and first-rate amenities and unit finishes, Lake House by Alta is poised to be the premier luxury apartment community in South Orlando,” said Bryan Borland, Managing Director for Wood Partners. “Orlando is among the most rapidly growing markets in the country, and Lake House by Alta is our trophy property in the region.”
The 7.38-acre lakefront site is located at 7600 Majorca Place, offering convenient access to more than 200 exclusive restaurants with a wide range of cuisines. The site’s location just a half-mile west of Interstate 4 allows for quick access to Orlando’s Tourism Corridor, The Mall at Millenia and the Downtown central business district, as well as Sand Lake Road’s wide assortment of deluxe spas, fitness studios and boutique retail establishments.
With its desirable location at the heart of the Doctor Phillips neighborhood, Lake House provides its residents a small commute to major regional employers, including Darden Restaurants, Lockheed Martin, Universal Studios Orlando and the Orange County Convention Center. For those residents who work from home, Lake House by Alta offers flexible on-site workspaces.
Lake House by Alta provides cosmopolitan amenities in a community-centered living space with three elevated courtyards, each featuring scenic views of Spring Lake. Residents can soak in the Florida weather from the comfort of private, resort-style cabanas along the lakeside saltwater pool, cozy up next to the fire pit or relax under the covered poolside pavilion. For those seeking more active forms of recreation, residents can break a sweat in one of two fitness rooms, delight in a specialty cocktail or a glass of wine in the tasting room, entertain guests over a game of billiards or bring the fun outdoors with a ping pong match on the custom concrete table or a cornhole tournament on the multi-purpose game lawn.
Each apartment home features ultra-high-end kitchen finishes such as white shaker-style, soft-close cabinetry with under-cabinet lighting, low-profile stainless steel appliance package including front-control glass-top ranges and hidden-control dishwashers and upgraded granite countertops. Select apartment homes also include walk-in glass-framed showers, oversized bathrooms with double vanities and separate dining areas. All units are equipped with a full-size washer and dryer and USB wall ports and are cable-ready.
Lake House by Alta features 299 new luxury rental units made up of distinctive studio, one-, two- and three-bedroom floor plans. The community welcomed its first residents on Feb. 1, and leasing is currently underway.

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GAINESVILLE, FL – Celebration Pointe, North Central Florida’s premier mixed-use development, strategically located along Interstate 75 in Gainesville, announced that the 160-acre super-regional mixed-use development is gearing up to complete the second and final phase of its “Main Street” development. Cleveland, Ohio-based Cupkovic Architects, the master project architect of record, is preparing certain aspects of the development in anticipation of breaking ground by third quarter 2020. Site preparation for vertical construction is set to commence shortly.
Ralph Conti, Principal of Atlanta-based RaCo Real Estate Advisors and a Celebration Pointe Development Partner said, “The more mixed-use centric Phase 2 is, in many ways, an extension of the food- and entertainment-focused Phase 1 with the exception that this second phase will be multi-level, containing approximately 90,000 square feet of retail space, some 100 luxury apartments and flex-office space. Avison Young’s leasing team has and continues to be actively engaged with a number of prospective tenants for Phase 2 occupancy. We are also working directly with a significant user that will anchor this phase of the development. We expect to make an announcement in the very near future. Barring any material issues, we will break ground on Phase 2 later this year and be open by October 2021.”
Conti added, “Phase 1 of our Main Street contains a mix of many first-to-market restaurants and retailers as well as a highly engaging pedestrian area known as The Promenade. We are nearly 100 percent leased and thus far Phase 1 has proven to be a huge success. In addition to tenants that are already open for business, the following tenants are under construction and scheduled to open in 2020: Dave & Buster’s, a nationally renowned restaurant with a technologically-advanced arcade; Prime & Pearl, an innovative, upscale steakhouse, seafood restaurant and oyster bar; Spurrier’s Gridiron Grille, a celebrity-themed restaurant by Heisman Award-winning and legendary college and NFL football coach Steve Spurrier; Sensei Asian Bistro, an upscale Asian Fusion restaurant; and Skechers, a national retailer focused on American lifestyle and performance footwear. Along with the diverse retail mix, Celebration Pointe will soon be leasing the first of its 220 luxury apartments known as City Place. Initial occupancy in the first building, shown below, is scheduled for summer 2020.”
The VUE, Celebration Pointe’s signature townhome development, has been very well loved with home buyers. Five of the six units in the model building, open seven days a week and shown below, have sold out. A second multi-unit building is well under construction and is expected to be available for occupancy in summer 2020. Plans for additional buildings are underway. The VUE is expected to contain some 86 townhomes as well as several detached, single family homes, one of which is currently under construction and will be available for occupancy summer 2020.
“This community is a fabulous addition to Gainesville,” said Sandy Fackler, one of the first townhome owners at The VUE. “To me, it represents innovative growth in an upscale way. I come home feeling that me and my property will be safe. It’s a gorgeous location with a fantastic vibe and positive energy. Everything is walkable and at the same time I have simple driving access to downtown Gainesville and I-75. It allows me to be anywhere with convenience. I’m also looking forward to watching my investment grow along with Celebration Pointe, and all the new elements that are on the way. It’s becoming the hot new area in Gainesville.”
As a thriving mixed-use development, Celebration Pointe has been an incredible partner and a fantastic location for our theatre,” stated Richard M. Grover, Vice President of Communications, Regal Entertainment Group. “Since opening in 2018 as part of Phase 1, the theatre has been a right success for Regal helping grow the moviegoing market in the northern Florida area. Gainesville is an vital market for Regal and we’re proud to offer our moviegoers a state-of-the-art theatre at Celebration Pointe, providing a wide variety of specialty food and drinks, luxurious recliners and cutting-edge technology delivering comfortable surroundings and cinematic perfection.”
“We chose to partner with Celebration Pointe as the location for Hotel Indigo Gainesville Celebration Pointe because we believe in Gainesville as an emerging lodging destination in Florida as well as the live/work/play concept that Celebration Pointe offers,” said Mitul Patel, Managing Principal and Chief Operating Officer of Atlanta-based Peachtree Hotel Group. “We believe that our selection of the Hotel Indigo brand, which touts the uniqueness of the neighborhoods in which each hotel is located, gives us an opportunity to lean into the distinctive personality of Gainesville and all it has to offer.”
“Bass Pro Shops is very proud to be an anchor tenant in the Celebration Pointe development in Gainesville,” said Katie Mitchell, Communications Manager, Bass Pro Shops Group. “The location fits our customers perfectly—allowing us to showcase our immersive outdoor store and offer our iconic outdoor brands, products, services and events for the hunting, fishing, boating and other outdoor enthusiasts in the area. As one of the first establishments to open in November 2016, we continue to see increased traffic to the area and to our location. We’re very excited to see the ongoing growth and what Phase 2 will bring to Celebration Pointe.”
“We could not be more pleased with the tremendous growth Celebration Pointe has experienced since we went in nearly three years ago,” said Dr. Jamie McClave Baldwin, Infotech Consulting President. “This mixed-use development provides a community of restaurants, green spaces and shopping within walking distance for our nearly 300 employees to delight in plus a hotel conveniently across the street for our clients. It doesn’t get better than that.”
Leslie Payne, Director of Marketing at Celebration Pointe added, “In addition to the unique and inviting atmosphere that Celebration Pointe provides, which many people regularly delight in, we look forward to continuing to provide a memorable experience. This includes a variety of shopping, dining and entertainment options for the whole family.”

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