NRP Group Nabs Prime Las Vegas Lot

NRP Group Nabs Prime Las Vegas Lot
News| August 13, 2025| Mike Boyd
Phoenix & Southwest + Apartment Buildings

Newmark announces the company has arranged the $17.1 million sale of a prime 7.8-acre site, strategically located on the northeast corner of Maule Ave and Gagnier Blvd. in Las Vegas, Nevada, along the 215 Beltway, adjacent to the Durango Casino and UnCommons.

Newmark’s Michael Stuart represented the buyer, The NRP Group, which plans a four-story, 390-unit residential community on the site. The NRP Group expects to break ground in the third quarter of 2025, with first occupancy scheduled for 2027.  

With its location and immediate access to lifestyle destinations such as Durango Casino and UnCommons, the new development will meet growing demand for well-located, amenitized rental housing. 

This transaction aligns with broader market trends, as Las Vegas’ multifamily sector continues to attract significant investment. According to Newmark Research, the region’s multifamily market saw a 42% year-over-year increase in investment sales, driven by strong demand for residential properties.

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