Las Vegas-based Camino Verde Group, a real estate investment, development and asset management company, has acquired Sherwood Palms, a multifamily property in the Convention Center District of Las Vegas. The apartment community is located at 2635-2655 Sherwood Street and is the fourth that they have acquired in this neighborhood.
“Sherwood Palms was a great opportunity to restore this vintage Las Vegas property and provide quality workforce housing for workers on the north end of the Las Vegas Strip,” said Kevin Romney, co-founder and managing director of Camino Verde Group. “With the opening of the Convention Center Expansion, Resorts World and Circa, the need for affordable and workforce housing grows. SherwoodPalms fills an important need for that.”
Originally built in 1963, the 24-unit property features two levels of two-bedroom and three-bedroom floor plans up to 1,000 square feet. It includes an enclosed outdoor courtyard, community laundry facility and updated apartment spaces with high-speed internet access and air conditioning and heating units.
Camino Verde Group plans to renovate the units with new appliances, countertops and floor coverings along with other fixtures and finishings. “Many of the properties Camino Verde Group acquires are in dire need of rehabilitation and nearly uninhabitable,” said Romney. “We repair holes in the walls, broken windows and security issues to make them both safe and aesthetically pleasing to tenants. We are committed to providing affordable housing that our hard-working industry workers will appreciate.”
The community is just a short drive away from some of the city’s top employers, including the Convention Center, Resorts World, The Westgate, the iconic Strat tower, Fremont Street Experience and the Fashion Show Mall.
Public transportation is a convenient short walk from Sherwood Palms, including the Westgate Monorail Station that can take passengers to the heart of Las Vegas near the McCarran International Airport.
Residents can enjoy a variety of retail and restaurant options throughout the neighborhood, including the Historic Commercial Center District outdoor mall featuring a variety of restaurants, retail shops and entertainment opportunities.
For information on Camino Verde Group’s portfolio of multifamily properties, visit www.caminoverdegroup.com.
Camino Verde Group LLC is a Las Vegas-based privately held real estate investment, development and asset management company with its sole focus on multifamily and mixed-use real estate. They generate passive income, long-term equity and appreciation for investors and owners through the purchase/ development and, wise management of property assets and maximizing income exit strategies. For more information on Camino Verde Group, visit http://caminoverdegroup.com.