2018 “ ” APARTMENT INSIDER - 20 | LAS VEGAS SALES EDITION | 2018 YEAR - END CONTENTS 01 CLASS “A” SALES 02 CLASS “B” SALES 03 CLASS “C” SALES 04 2018 SALES SUMMARY 05 NOTABLE TRANSACTIONS 06 50 UNITS + LESS CLASS “A” South Beach Resort - 8920 West Russell Road; Las Vegas, NV 89148 Price: $62,000,000 Price per Unit: $281,818 Brokerage: Cushman & Wakefield Price per SF: $258.44 2018 TRANSACTION VOLUME Q1 $59,650,000 426 units Q2 $200,850,000 913 units Q3 $44,032,265 210 units Q4 $206,750,000 929 units TOTAL: $511,282,265 KEY METRICS $63,910,283.13 Average Sale $206,328.60 Average $/Unit $199.78 Average $/SF 5.04 % Lotus Apartments - 3463 Procyon Street; Las Vegas, NV 89102 Price: $77,000,000 Average Cap Rate Price per Unit: $261,016 Brokerage: Off-Market Price per SF: $276.98 APARTMENT INSIDER - 20 | APARTMENT LAS VEGAS SALES EDITION SALES VEGAS LAS | A CLASS SALES - 2018 SALES | A CLASS CLASS “A” CLASS PROPERTY NAME CITY ZIP UNITS YEAR BUILT PRICE PRICE / UNIT RENTABLE SF PRICE/SF DATE ULTRIS ARROW CANYON Las Vegas 89081 426 2009 $59,650,000.00 $140,023.47 459,816 $129.73 02/2018 5005 LOSEE RD CASTILE Henderson 89074 498 2017 $99,600,000.00 $200,000.00 457,008 $217.94 04/2018 1545 WEST WIGWAM PARKWAY GRAMERCY, THE Las Vegas 89148 160 2008 $37,000,000.00 $231,250.00 220,053 $168.14 05/2018 9215 WEST RUSSELL ROAD ELYSIAN AT SOUTHERN HIGHLANDS Las Vegas 89141 255 2013 $64,250,000.00 $251,960.78 341,605 $188.08 06/2018 12020 SOUTHERN HIGHLANDS PARKWAY BOCA RATON CONDOMINIUMS Las Vegas 89123 210 2007 $44,032,265.00 $209,677.45 244,447 $180.13 08/2018 2405 - 2455 W. SERENE AVE LOTUS Las Vegas 89102 295 2018 $77,000,000.00 $261,016.95 278,000 $276.98 11/2018 3463 PROCYON STREET SOUTH BEACH RESORT Las Vegas 89148 220 2017 $62,000,000.00 $281,818.18 239,903 $258.44 11/2018 8920 WEST RUSSELL ROAD AVANTI Las Vegas 89166 414 2010 $67,750,000.00 $163,647.34 318,366 $212.81 12/2018 10659 WEST CENTENNIAL PARKWAY Ely at Spring Valley 9750 Peace Way Las Vegas, NV 89147 Brokerage: Cushman & CLASS “B” Wakefield Price: $27,550,000 Price per Unit: $153,055 Price per SF: $153.06 2018 TRANSACTION VOLUME Q1 $173,927,410 1,204 units Q2 $412,105,000 3,038 units Q3 $401,559,000 2,750 units Q4 $317,488,845 2,202 units TOTAL: $1,305,080,255 KEY METRICS $37,288,007.29 Average Sale $141,949.12 Average $/Unit $148.25 Average $/SF Aviata Luxury Apartments - 2121 East Warm Springs Road; Las Vegas, NV 89123 Price: $67,000,000 5.18% Price per unit: $146,929 Average Cap Rate Price per SF: $141.79 Brokerage: Off-Market APARTMENT INSIDER - 20 | APARTMENT PROPERTY NAME CITY ZIP UNITS YEAR BUILT PRICE PRICE / UNIT RENTABLE SF PRICE/SF DATE RITIRO LAS VEGAS Las Vegas 89117 332 1998 $65,742,410.00 $198,019.31 317,971 $206.76 01/2018 9550 WEST SAHARA AVENUE BIG HORN AT BLACK MOUNTAIN Henderson 89012 144 1998 $14,475,000.00 $100,520.83 133,488 $108.44 01/2018 231 WEST HORIZON RIDGE PARKWAY MILLENNIUM EAST Las Vegas 89115 236 2000 $25,960,000.00 $110,000.00 222,884 $116.47 02/2018 3580 EAST ALEXANDER ROAD PASEO DEL PRADO Las Vegas 89015 120 1996 $10,200,000.00 $85,000.00 105,337 $96.83 02/2018 740 EAST WARM SPRINGS RD. CENTERPOINT Las Vegas 89146 192 2007 $30,000,000.00 $156,250.00 170,904 $175.54 03/2018 5905 W CHARLESTON BLVD ELY AT SPRING VALLEY Las Vegas 89147 180 2000 $27,550,000.00 $153,055.56 180,000 $153.06 03/2018 LAS VEGAS SALES EDITION SALES VEGAS LAS 9750 PEACE WAY DESERT RIDGE Las Vegas 89156 304 1990 $30,750,000.00 $101,151.32 255,190 $120.50 04/2018 7055 EAST LAKE MEAD BOULEVARD XANDER 3900 Las Vegas 89129 480 1996 $69,500,000.00 $144,791.67 443,040 $156.87 05/2018 3900 DALECREST DRIVE AVIATA Las Vegas 89123 456 1998 $67,000,000.00 $146,929.82 472,524 $141.79 05/2018 2121 EAST WARM SPRINGS ROAD MONTECITO POINTE Las Vegas 89149 336 2006 $59,250,000.00 $176,339.29 329,616 $179.75 05/2018 9745 GRAND TETON DRIVE CYAN AT GREEN VALLEY Las Vegas 89014 234 2003 $42,705,000.00 $182,500.00 235,211 $181.56 05/2018 1350 KELSO DUNES AVENUE SOLIS AT FLAMINGO Las Vegas 89121 524 1992 $72,000,000.00 $137,404.58 433,850 $165.96 06/2018 3205 EAST FLAMINGO ROAD | B CLASS SALES - 2018 SALES | B CLASS ESTATES AT WESTERNAIRE Las Vegas 89115 336 1995 $29,900,000.00 $88,988.10 342,483 $87.30 06/2018 3975 NORTH NELLIS BOULEVARD SILVER CREEK APARTMENTS Las Vegas 89122 224 2002 $26,000,000.00 $116,071.43 223,200 $116.49 06/2018 6170 BOULDER HIGHWAY CYPRESS SPRINGS Las Vegas 89108 144 1994 $15,000,000.00 $104,166.67 131,860 $113.76 06/2018 3651 NORTH RANCHO DRIVE CRYSTAL CREEK Henderson 89014 524 1990 $77,750,000.00 $148,377.86 515,832 $150.73 07/2018 “B” CLASS 3001 WEST WARM SPRINGS ROAD BOULEVARD, THE Las Vegas 89121 344 1998 $29,000,000.00 $84,302.33 260,416 $111.36 07/2018 3050 SOUTH NELLIS BOULEVARD THE PEARL AT ST. ROSE Las Vegas 89183 270 2000 $41,850,000.00 $155,000.00 255,479 $163.81 07/2018 10250 SPENCER STREET VILLAS AT MOUNTAIN VISTA Las Vegas 89120 204 1985 $27,000,000.00 $132,352.94 158,370 $170.49 07/2018 5400 MOUNTAIN VISTA STREET BORGATA CONDOS Las Vegas 89103 202 1998 $21,284,000.00 $105,366.34 187,541 $113.49 07/2018 4400 SOUTH JONES BOULEVARD OASIS SIERRA Las Vegas 89117 208 1998 $36,100,000.00 $173,557.69 194,848 $185.27 08/2018 7001 WEST CHARLESTON BOULEVARD FALCON LANDING Las Vegas 89108 198 2008 $27,275,000.00 $137,752.53 197,351 $138.21 08/2018 5067 MADRE MESA DRIVE CROSSING AT GREEN VALLEY Henderson 89014 384 1986 $59,750,000.00 $155,598.96 330,126 $180.99 09/2018 2312 NORTH GREEN VALLEY PARKWAY TOWNHOMES AT HORIZON RIDGE Henderson 89012 296 2001 $64,100,000.00 $216,554.05 380,952 $168.26 09/2018 540 WEST HORIZON RIDGE PARKWAY RETREAT, THE Las Vegas 89119 120 1996 $17,450,000.00 $145,416.67 118,080 $147.78 09/2018 4248 SPENCER STREET SEQUOIA MEADOWS Las Vegas 89146 136 1988 $22,250,000.00 $163,602.94 163,200 $136.34 10/2018 5211 PIONEER AVENUE REFLECTIONS AT THE LAKE Las Vegas 89117 326 1989 $51,000,000.00 $156,441.72 329,482 $154.79 11/2018 2601 SOUTH GRAND CANYON DRIVE HELIX Las Vegas 89106 316 1989 $48,750,000.00 $154,272.15 261,172 $186.66 11/2018 1700 ALTA DRIVE GROVE, THE Las Vegas 89108 256 1989 $34,500,000.00 $134,765.63 235,600 $146.43 11/2018 2901 NORTH RAINBOW BOULEVARD TESORO RANCH Las Vegas 89011 400 2006 $61,688,845.00 $154,222.11 497,890 $123.90 12/2018 6655 BOULDER HIGHWAY VILLA SERENA Henderson 89014 288 1996 $52,500,000.00 $182,291.67 280,060 $187.46 12/2018 325 NORTH GIBSON ROAD PRISM AT BONANZA Las Vegas 89110 144 1990 $14,850,000.00 $103,125.00 135,072 $109.94 12/2018 4000 EAST BONANZA ROAD SPECTRUM AT KATIE Las Vegas 89119 128 1990 $13,050,000.00 $101,953.13 112,112 $116.40 12/2018 1601 EAST KATIE AVENUE SPECTRUM AT BONANAZA Las Vegas 89110 118 1990 $10,800,000.00 $91,525.42 106,318 $101.58 12/2018 4521 EAST BONANZA ROAD SPECTRA AT RENO Las Vegas 89119 90 1987 $8,100,000.00 $90,000.00 86,000 $94.19 12/2018 1330 EAST RENO AVENUE Promenade at Sahara 4801 East Sahara Avenue Las Vegas, NV 89104 Brokerage: Cushman & Wakefield Price: $23,300,000 Price per Unit: $74,679 Price per SF: $85.58 CLASS “C” 2018 TRANSACTION VOLUME Q1 $122,170,000.00 1615 units Q2 $115,725,000.00 1296 units Q3 $96,455,000.00 1948 units Q4 $153,275,000.00 1712 units TOTAL: $487,625,000 KEY METRICS $19,505,000.00 Average Sale $74,208.64 Average $/Unit $103.33 Average $/SF 5.68% Average Cap Rate Saint Louis Apartments - 3350 East Saint Louis Avenue; Las Vegas, NV 89104 Price: $8,946,000 Price per unit: $68,290 Brokerage: Cushman & Wakefield Price per SF: $101.17 APARTMENT INSIDER - 20 | APARTMENT CLASS “C” LAS VEGAS SALES EDITION SALES VEGAS LAS PROPERTY NAME CITY ZIP UNITS YEAR BUILT PRICE PRICE / UNIT RENTABLE SF PRICE/SF DATE PROMENADE AT SAHARA Las Vegas 89104 312 1983 $23,300,000.00 $74,679.49 272,261 $85.58 01/2018 4801 E SAHARA AVE PRIME LUXURY APARTMENTS Las Vegas 89119 210 1974 $22,500,000.00 $107,142.86 196,252 $114.65 01/2018 3875 CAMBRIDGE ST. SANTA FE Las Vegas 89104 145 1988 $11,500,000.00 $79,310.34 124,254 $92.55 01/2018 3955 E. CHARLESTON BLVD.