The PennZone

LAS VEGAS - PennZone -- The Calida Group announced the sale of Ely at Fort Apache, a luxury multifamily residential community in Las Vegas, for $57.5 million. The project was sold on an off-market basis, with The Mogharebi Group representing the buyer in the transaction.

Located in the highly desirable southwest Las Vegas submarket, Ely at Fort Apache features thoughtfully designed residences and lifestyle-driven amenities tailored to today's renters. The community was developed to meet continued demand for high-quality multifamily housing in one of the valley's fastest-growing residential corridors.

The property sold for approximately $279 per unit and $333 per square foot, reflecting continued investor demand for well-located, institutional-quality multifamily assets in the Las Vegas market.

"Ely at Fort Apache is another example of our team's ability to identify strong growth locations and deliver a product that resonates with residents and investors alike," said Douglas Eisner, co-founder and co-CEO of The Calida Group. "We are proud of the community we created and pleased with the outcome of this transaction, which reflects the continued strength of the Las Vegas multifamily market."

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The sale further underscores The Calida Group's strategy of developing and operating high-quality residential communities in premier Western U.S. markets.

For more information, visit TheCalidaGroup.com.

About The Calida Group

The Calida Group is a leading developer, investor, and operator of multifamily real estate properties in the western United States.  Founded in 2007 by Douglas Eisner and Eric Cohen, the principals have developed or acquired more than 30,000 multifamily units, and its senior management combines over 100 years of real estate experience.  The Calida Group invests roughly $1 billion annually across three primary strategies (Development, Value-Add Acquisitions and Core-Plus Acquisitions) on behalf of a series of discretionary commingled funds serving the family office and ultra-high net worth communities, as well as forming partnerships with many of the nation's largest financial institutions.

The Calida Group begins with strategic and creative deal sourcing methods to identify investment opportunities that are often completely off market or otherwise less competitively advertised. Then, by leveraging the firm's lifestyle-oriented design capabilities and operational expertise, The Calida Group tailors unique business plans for each asset. Finally, by meticulously implementing these business plans while managing construction risk, conservatively financing each property and employing thoughtful tax planning, Calida is able to create superior investment opportunities with lower risk than would typically be expected in deals of similar return profiles.

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For more information please visit us at TheCalidaGroup.com, or reach out to our investor relations department at InvestorRelations@TheCalidaGroup.com.

About Elysian Living

Elysian Living communities feature meticulous design, created specifically with comfort, style and convenience in mind. The luxury homes feature the highest-level of custom finishes, ultra-modern design fixtures and the latest in tech packages to create an unsurpassed home living experience. Conveniently located near nightlife, fine-dining options, shopping and parks, an Elysian living community is more than just a home; it's an elevated living experience that takes luxury living to a whole new level. For more information.

To learn more about Elysian Living, visit ElysianLiving.com. Stay up to date on all things Elysian Living on Instagram and Facebook.