Virtú Investments Acquires Liberty Square in Las Vegas, NV

The Evergreen Fund purchased Liberty Square, a 218-unit multifamily property in Las Vegas, NV. Liberty square is located in the Northwest submarket of Las Vegas, an area that has outperformed the greater Vegas market, and remains heavily undersupplied. The property presents an opportunity to continue an interior renovation plan to bring the asset up to condo quality.

Economically, Las Vegas has previously trailed other major metros, but employment and population growth have exceeded the national average over the past few years. Virtú expects sustained economic growth for the coming years, and multifamily development remains relatively quiet, especially compared to recent oversupply of single-family homes during the bubble. With no immediate supply threat in the Northwest market, combined with Liberty Square’s unique townhome product, the asset is well positioned in a desirable market.