Berkadia is pleased to present Keller Cactus Hills, a differentiated 210-unit multifamily opportunity located in an affluent pocket of Southern Las Vegas near the Southern Highlands master-planned community.

The Property offers a rare combination of condominium-quality construction with a vast array of amenities far superior to competitors, coupled with meaningful operational upside through both revenue growth and expense rationalization. Currently underperforming its competitive set and operating with an above-market expense structure, Keller Cactus Hills presents investors with a clear and actionable path to immediate NOI expansion.

Positioned within one of the valley’s most desirable residential corridors, the Asset benefits from strong demographics, high surrounding home values, and exceptional connectivity via the 215 Beltway, providing seamless access to Summerlin, Henderson, Harry Reid International Airport, and the Las Vegas Strip. Combined with a growing healthcare and infrastructure base, the Property is well positioned for durable renter demand and long-term growth.

Delivered in 2019, Keller Cactus Hills offers a level of finish and abundance of amenities that is increasingly difficult to replicate today. Featuring a mix of one- and two-bedroom floor plans, residences include expansive tri-fold patio doors, eight-foot interior doors, 10-foot+ ceilings, premium interior finishes with gas ranges, designer hoods, JennAir stainless steel appliances, and full-height tile backsplashes.

The community is complemented by a resort-caliber amenity package, including a state-of-the-art fitness center, contemporary clubhouse with multiple resident lounges (gaming, media, business, and chef’s kitchen with coffee service), resort-style pool with two spas, and rooftop lounge with grilling areas and sweeping views of the Las Vegas Strip—delivering a best-in-class living experience with one of the most comprehensive amenity offerings of any asset of this size.

The Property is currently self-managed, resulting in an above-market expense profile across management, payroll, administration, marketing, repairs and maintenance, and contract services. Additionally, Keller Cactus Hills is underperforming its competitive set with in-place rents trailing by approximately $182 and occupancy lagging stabilized peer performance.

This dynamic presents a clear opportunity to drive NOI growth through the implementation of third-party professional management, disciplined pricing optimization, and targeted marketing strategies.

Located west of Interstate 15 and adjacent to Southern Highlands, the Property benefits from demographics that materially exceed Las Vegas averages, including median household income of approximately $111K (33% higher than the metro average of $83K), 74% white-collar employment (vs. 58%), and 41% college-educated residents (vs. 27%). Surrounding home values average approximately $695K, with many homes ranging from $500K to over $1M, supporting a strong renter-by-choice demographic.

The area is also recognized as one of the safer and more established residential environments in the valley, with access to highly rated public and private schools, driving long-term tenancy and stable collections.

Keller Cactus Hills offers exceptional connectivity via Interstate 15 and the 215 Beltway, enabling efficient access to key employment hubs including the Southwest Curve, Henderson, Harry Reid International Airport, and the Las Vegas Strip. The Property is also supported by a growing healthcare employment cluster, including West Henderson Hospital and St. Rose Dominican facilities, providing a stable and diversified employment base.

Combined with continued infrastructure investment, Southern Las Vegas is positioned for sustained renter demand.

Las Vegas is transitioning into a more diversified, employment-driven economy, with growth increasingly driven by healthcare, advanced manufacturing, logistics, and professional services. Key catalysts include a $1B+ standalone children’s hospital, expansion of professional sports with the introduction of MLB’s Las Vegas A’s and a potential NBA expansion team, Haas Automation’s new manufacturing facility, and the Brightline West high-speed rail project, which will enhance connectivity to Southern California.

Together, these trends are reshaping Las Vegas into a more resilient, multi-sector economy, supporting sustained housing demand.

Harry Reid International Airport continues to rank among the nation’s busiest, serving a record-breaking 58 million passengers in 2024 and sustaining near-record volumes in 2025 that underscore Las Vegas’s enduring global appeal.

At the same time, the Strip is undergoing a once-in-a-generation transformation, highlighted by Fontainebleau’s debut, Hard Rock’s $1.5B redevelopment of The Mirage, and Bally’s Corporation’s $3B Tropicana redevelopment. Sustained tourism and large-scale Strip reinvestment are reinforcing Las Vegas as a dynamic market with continued economic growth.