FCA Group Completes Acquisition of Amber Ridge Apartments, Las Vegas NV

MIAMI, April 10, 2014 /PRNewswire/ --

FCA Group, the North and Central American real estate investment and property management arm of the Libra Group, has acquired the 316 unit multi-family development Amber Ridge Apartments in Las Vegas, Nevada. It marks a significant addition of 266,060 sqft to the company's North America multi-family housing portfolio and joins the 1,000 residential units which FCA Group already owns and manages in Florida.

Following the acquisition FCA Group is embarking on a comprehensive program of refurbishment and enhancements at Amber Ridge which will bring direct benefits to the community while adding prestige and value to the development as a whole. This includes restoring deteriorated units to suitably modern standards and upgrading selected apartments to meet the demand for a premium rental option. There will be substantial improvements to amenities throughout including re-developed common areas with superior landscaping, basketball courts, a soccer pitch and a new barbecue and picnic area. Finally, FCA will be deploying a new property management team located on-site and at its Las Vegas executive offices.

Located just 10 minutes from Downtown Las Vegas and 15 minutes away from The Strip, Amber Ridge is in a sought-after location which is currently under-served by suitable rental accommodation following  the region's economic growth, job creation, rising population and expanding tourism industry.

"We have been looking to make an investment such as this for some time and Amber Ridge Apartments presented the perfect opportunity for us," says Frank Espinosa, CEO of FCA Group. "It is in the right place at the right time, with Las Vegas improving its economics and infrastructure. We were able to close this transaction in a swift manner through the leverage of our own financing. Our approach to investment involves adding value to developments, improving the living environment, and creating more cohesive communities."

Occupying over 18 acres of land overlooking the scenic mountain ridge that separates Las Vegas from Lake Mead, the Amber Ridge Apartments are configured in one-, two- and three-bedroom options with the larger units having two bathrooms. Each fully-equipped, spacious dwelling has a patio or balcony allowing residents to enjoy the spectacular views. The development itself features two swimming pools with spa, lit basketball and tennis courts, a fitness center and guest lounge.

About FCA Group 

FCA Group (http://www.fcagrp.com) is the North and Central American real estate investment and management arm of the Libra Group.  Since 2006, its real estate transactions have resulted in a comprehensive commercial, hospitality and residential property portfolio in key cities such as Miami, Tampa, New York, Los Angeles, Las Vegas and Panama City, Republic of Panama. FCA Group actively targets properties where it can add value through recapitalization and superior hands-on management, while maintaining a careful balance between location, property and tenant types.

http://www.fcagrp.com

About The Libra Group 

The Libra Group (http://www.libra.com) is an international business group with principal operations in five core sectors: shipping, aviation, real estate, hospitality and energy. The group which is owned by the Logothetis family comprises 30 subsidiaries operating across five continents. Libra is distinguished by a combination of traditional values, new ideas and an agile mindset that allows it to take advantage of opportunities.

http://www.libra.com

Silvio Marcacci for FCA
+1(202)643-8210
silvio@marcaccicomms.com

Comments

Post a Comment

Popular posts from this blog

Parents of Student Murdered by Maintenance Man Sue Apartment Complex

He pleaded guilty to murder late last year, now the case of a maintenance worker who killed a Blinn student is back in court. The parents of 20-year-old Jenna Verhaalen are suing the Bryan apartment complex where she was killed. Verhaalen was strangled at the Autumn Woods Apartments in 2008, by 27-year-old maintenance worker Jeremiah Rosser . The suit claims Autumn Woods ignored complaints made about Rosser. Specifically, a complaint they claim Jenna made to Rosser's boss, when he entered her apartment while she was in the shower. The suit alleges the complex's negligence led to Jenna's death. Attorneys for Autumn woods said management had no reason to believe Rosser was a risk. However, that's not what the complex's corporate office told News Three in 2008. Back then, a spokesperson said Jenna complained to the maintenance supervisor about Jeremiah Rosser , but never filed a complaint with the office. Rosser quit his job at Autumn Woods several day
Read more

“Blacklist” star Megan Boone lists West Village apartment for $2.4M

Image
Megan Boone and her apartment at 302 West 12th Street (credit: NBC and BKR Partners) Megan Boone, who  plays FBI agent Elizabeth Keen on NBC’s crime thriller “The Blacklist,” has just listed her condominium at 302 West 12th Street for $2.4 million, per city records. (credit: BKR Partners) Boone bought the apartment in 2014 for $1.85 million. According to the listing, with Brian Kanarek of BKR Partners, the 837-square-foot unit has one bedroom and one bathroom. It overlooks tiny Abingdon Square Park, and has a large fireplace, soundproof windows, high ceilings, a walk-in closet and access to the communal landscaped roof terrace . Kanarek did not immediately respond to request for comment. (credit: BKR Partners) Per city records, Boone and her husband, artist Dan Estabrook , bought a townhouse in Carroll Gardens in March 2016 in an off-market deal. In addition to starring on “Blacklist” with James Spader, Boone has also appeared on “Law & Order: LA,” “Blue Bloods” and the film “St
Read more

Charlotte affordable housing forum raises possible solutions

There’s a big demand for more affordable housing in Charlotte, where rents and home prices have shot up much faster than wages over the past few years. Many of the apartments being built now target more affluent renters, waitlists for housing vouchers are long and starter homes are snapped up almost immediately. So why aren’t developers building more affordable housing ? That was one of the main questions at a candidate education panel hosted by the Greater Charlotte Apartment Association on Friday, where about two dozen candidates for Charlotte City Council turned out to learn some of the basics on a complicated subject. “ Affordable housing is one of the topics you’ll talk about a lot,” Bryan Holladay, who supervises the group’s government affairs outreach , told the candidates. The subject is an alphabet soup of acronyms (like NOAH, or “ Naturally Occurring Affordable Housing ”) and overlapping terms and definitions. Sometimes when people say “ affordable housing ” they mean go
Read more