CEDARst Starts Work on $82M LV Apartment Project
CEDARst Companies broke ground on The Presley, an $82 million multifamily project located in the heart of the Las Vegas Medical District.
Designed by Booth Hansen with OS Construction as general contractor, the seven-story, 275,000-square-foot community is scheduled to deliver in 2028 and will introduce 236 new residences.
The project is being financed by a $56.0 million construction loan provided by North River Partners and funds managed by AB CarVal. Financing was arranged by Berkadia. The community will offer a mix of studio, one, and two-bedroom units, including a portion designated as affordable housing.
Amenities include a fitness center, co-working lounge, golf simulator, and a rooftop pool deck overlooking the district.
The Presley represents CEDARst’s tenth Qualified Opportunity Zone development nationwide.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout