#United States #Las Vegas #CONAM Group #Alicante Apartment

CONAM Strategic Investments Fund IV Acquires Alicante Apartment Homes

In a significant strategic move, CONAM Strategic Investments Fund IV LP, an investment fund managed by The CONAM Group, announced its acquisition of the Alicante Apartment Homes, a multifamily community comprising 232 units located in Spring Valley, Las Vegas, Nevada. This acquisition is part of CONAM's ongoing strategy to bolster its portfolio in vital growth markets across the United States.

Features of Alicante Apartment Homes

Created in 2001, the Alicante complex covers an expansive 11.29 acres and features two-story, garden-style buildings. Offering a variety of floor plans—one, two, and three-bedroom apartments—this community stands out with an average unit size of 1,092 square feet, which is notably larger than many competitors in the submarket. All units boast high-end finishes, including luxury vinyl plank flooring, quartz countertops, and stainless steel appliances. In addition, each apartment features a full-size washer/dryer, providing residents with essential conveniences.

Community Amenities

Alicante Apartment Homes is well-equipped with numerous amenities aimed at enriching resident lifestyles. The complex includes:

• - A refreshing swimming pool and spa
• - A fully equipped fitness center with yoga and spin studios
• - A welcoming clubhouse for social gatherings
• - A billiards room for recreational activities
• - A dog park and playground for families
• - Package lockers for secure package deliveries
• - Gated access ensuring an extra layer of security

These facilities are designed to foster community interaction while offering a quality living experience.

Strategic Location

Situated less than a mile from Summerlin, Alicante boasts an ideal location within proximity to critical employment hubs. Nearby facilities include Southern Hills Hospital and St. Rose Dominican Hospital - San Martin Campus. Furthermore, the property benefits from easy access to the UnCommons mixed-use development and the burgeoning UNLV Tech Park. With average household incomes exceeding $112,000 within a one-mile radius, the area presents a robust market for residential living.

Investment Insight

Zach Markell, Acquisitions Director at CONAM, commented, "Alicante fits squarely within our investment strategy—well-built suburban communities in markets with durable demand drivers, strong demographics, and attractive relative value." This acquisition marks another success for CONAM in its dedication to identifying and investing in communities that meet its stringent criteria.

The acquisition of Alicante represents the ongoing efforts of CONAM Strategic Investments Fund IV to invest in well-located multifamily communities in high-growth U.S. markets. CONAM has established itself as a seasoned operator with decades of experience in Southern Nevada. This investment not only enriches their existing portfolio but also demonstrates their commitment to providing quality housing options in flourishing regions.

About CONAM Group

Founded in 1975 and headquartered in San Diego, California, The CONAM Group has built a solid reputation as a multifaceted real estate investment and services firm. Renowned for its leadership in the multifamily sector, CONAM continues to execute its mission of delivering high-quality property management and investment services across various metropolitan areas. Currently managing over 60,000 units across 26 cities in 11 states, the company remains dedicated to excellence in all aspects of its operations.

As CONAM evaluates additional opportunities for strategic investments, the future looks promising for both the equity of the Fund IV and the residents of Alicante Apartment Homes. For more information on their portfolios and services, visit CONAM's official website.