Active
EVO Apartments
Las Vegas, NV
Overview
Asset class
Real estate
Asset type
Multifamily
Strategy
Core plus
Funds
Growth eREIT
Heartland eREIT
Updates
New acquisition
January 22, 2020
This is our second investment to date in Nevada, which has been the fastest-growing state in the country over the past two years.
New acquisition: Stabilized apartment community in Las Vegas
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Progress update
September 21, 2023
Despite shifting market conditions, the appraised value of the apartment community has increased by 19%.
Progress update: Supplemental loan for stabilized apartment community in Las Vegas
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Asset type
Multifamily
Multifamily (MF) is a residential building designed to house multiple tenants. These properties can range from small to large apartment complexes with hundreds of units. With a boom in remote work and business-friendly local governments courting employers, more affordably-priced suburban apartment communities have generally experienced stable or growing demand. Multifamily’s resilient demand and scale enables us to leverage our integrated operating platform to drive long-term performance.
Our strategy
Core plus
Acquire and operate stabilized, cash flowing properties
- Expected variability of return: Moderate
- Timing of expected return: Begin earning income shortly after acquisition
- Primary expected source of returns: Rental income with some growth
This section is intended to provide a general overview of the Core plus strategy for educational purposes only, and is not meant to be representative of the specific details of any individual investment. All investments involve risk; there are no guarantees of any returns.
Associated funds
Growth eREIT
Closed Real estate
The Growth eREIT was the first equity eREIT Fundrise launched in 2016. Since the beginning, it has pursued opportunistic investments into affordably-priced residential assets located primarily across the Sunbelt.
Heartland eREIT
Closed Real estate
The Heartland eREIT focuses on investing throughout the majority of the Sunbelt, which has been a beneficiary of high rates of population and job growth and the shift to remote work due to low cost of living, warmer weather, and business friendly policy.
