Barker Pacific Group Acquires the Greystone Apartments in Las Vegas, NV
Barker Pacific Group (BPG) has acquired the Greystone Park Apartments, a 278-unit, eleven-building apartment complex located at 2635 Karen Court, in Las Vegas. The complex spans over six acres just east of the North Las Vegas Strip, an area that is undergoing a revitalization evidenced by the opening of the recently completed Hilton Resorts World, the $150 mil expansion and renovation of the Sahara, and the restarting of construction on the J.W. Marriot (formerly Fontainebleau). The site is also near other notable locations, such as the Las Vegas Country Club and the Turnberry Towers.
Built in the 1960’s, Greystone Park presents an excellent opportunity to restore the asset’s midcentury charm with a new modern flair, while still positioning it as an attractive, low-cost housing option for the expanding local workforce. BPG will reposition the asset through both interior and exterior renovations, along with a complete rebranding of the property.
The community features a wide variety of floor plans, including both single story and townhome-style units. On-site amenities include a swimming pool, leasing office, laundry facilities, and significant grounds for future amenity areas.
Greystone Park marks BPG’s second Las Vegas acquisition this year; in April, the team acquired Tower 300 (formerly known as the Bank of America Plaza), a prominent downtown office building.