Houston-based Camden Property Trust is no longer in the Las Vegas market after selling its entire apartment portfolio in the city for $630 million in late April. According to a company release, the move is part of Camden’s capital recycling initiatives.
The portfolio included 15 communities with 4,918 units, a retail center, and approximately 19.6 acres of undeveloped land. Although the buyer wasn’t reported in the release, news outlet VEGAS INC. cited sources who said Calfironia-based companies Bascom Group and Oaktree Capital Management teamed up to make the purchase.
Multifamily Executive will have more on the sale next week.