As posted previously, Home Builders Research, Inc. and Northcap are pleased to announce their new partnership in the production of a quarterly report detailing metrics specific to the luxury condominium market in Las Vegas.
Until now, those interested in this asset class have found it difficult to obtain comprehensive data on all of the condominium properties, whereas there is an abundance of information on the traditional single family housing market. Similar to the overall housing market in Las Vegas, the report reflects striking gains in pricing – especially at those properties where developer sales have recommenced in recent years, such as Veer Towers and The Martin or at others where foreclosures and short sales have reduced as a percentage of overall transactions.
Northcap is a real estate company with a focus on the leasing management and sales and marketing of multifamily and condominium properties. The company was founded by John Tippins in 2006, and since its inception, Northcap’s team has closed on over $1.5 billion in transactions and has either directly overseen or advised on the sale of condominium properties totaling approximately 2,300 residences. Northcap’s team has successfully brought projects back to life that had stalled during the Great Recession. The company is a premier operator of residential real estate, and its roster of clients and partners includes some of the foremost private equity firms and high net worth individuals in the nation.
The report has been updated for the 2nd Quarter 2014 and is now available for direct download by clicking below.