LAS
VEGAS, Nov. 14, 2023
/PRNewswire/ -- Greystar Real Estate Partners, LLC ("Greystar"), a
global leader in the investment, development, and management of
real estate, including rental housing, logistics and life sciences,
today announced that construction on the first Birchway-branded
property in the Las Vegas market,
Birchway Tropicana, has begun.
"Birchway Tropicana will be the first new, non-student-centric
apartment community in the Paradise submarket to deliver in late
2024," said Billy Cundiff, Managing
Director, Development, Greystar. "The community has everything
residents need, including dining, retail and other modern
conveniences, offering comfortable, efficient living at attainable
rent levels."
The community will offer 284 residences in studio, one-, two-
and three-bedroom layouts. Apartments will feature white quartz
countertops, warm toned cabinetry, tile backsplashes, smart locks,
LG stainless steel appliances and vinyl plank flooring.
Rooted in community, Birchway Tropicana will offer residents at
any stage of life a place to make memories, whether that be
grilling with neighbors at the resort-style pool and spa, watching
the Raiders game in the clubhouse, or enjoying time with friends in
the gaming clubhouse. Other community amenities include a complete
onsite fitness center with free weights, cardio machines and
coworking and conference room spaces.
Birchway Tropicana is conveniently located close to the
University of Nevada, Las Vegas, the
Las Vegas strip and major
employers. Recreational opportunities are abundant, and just
minutes away, with several spectacular golf courses, world class
entertainment, the defending Stanley Cup winning Golden Knights at T-Mobile Arena and NFL action
at Allegiant Stadium, which is home to the Las Vegas Raiders. Harry
Reid International Airport is just 7 minutes away as well.
Greystar is working with Design Environments and architecture
firm Danielian Associates. ABLA is the landscape architecture firm.
Birchway Tropicana is developed together with our equity partner
SofMac Partners and construction lender Santander Bank, N.A.
About Birchway by Greystar
Birchway by Greystar
invites residents to enjoy comfort in suburban garden-style
communities, providing practicality, tranquility, and convenience.
Rooted in community, the Birchway brand offers the
conveniences of the city without city prices.
About Greystar
Greystar is a leading, fully
integrated global real estate company offering expertise in
property management, investment management, development, and
construction services in institutional-quality rental housing,
logistics, and life sciences sectors. Headquartered in Charleston,
South Carolina, Greystar manages and operates more than
$280 billion of real estate in 241
markets globally with offices throughout North America, Europe, South
America, and the Asia-Pacific region. Greystar is the largest
operator of apartments in the United
States, manages more than 822,100 units/beds globally, and
has a robust institutional investment management platform comprised
of more than $75 billion of assets
under management, including over $32
billion of development assets. Greystar was founded by
Bob Faith in 1993 to become a
provider of world-class service in the rental residential real
estate business. To learn more, visit www.greystar.com.
About SofMac
SofMac Partners is an investment
manager and developer mandated by private investors and select
institutional investors to gain exposure to targeted rental housing
sectors in growth markets in the U.S. In partnership
with Greystar, SofMac has eight projects in different stages
of development representing over US$300m in AUM.
About Santander Bank,
N.A.
Santander Bank, N.A. is
one of the country's largest retail and commercial banks with
$99 billion in assets. With its
corporate offices in Boston, the
Bank's nearly 9,000 employees and more than 2 million customers are
principally located in Massachusetts, New
Hampshire, Connecticut,
Rhode Island, New York, New
Jersey, Pennsylvania and
Delaware. The Bank is a
wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN)
– one of the most respected banking groups in the world with 164
million customers in the U.S., Europe, and Latin
America. It is overseen by Santander Holdings USA, Inc., Banco Santander's intermediate
holding company in the U.S. For more information, please visit
www.santanderbank.com/us/commercial
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SOURCE Greystar