Wolff Acquires 3,098-unit Apartment Portfolio in Las Vegas, Nevada

SCOTTSDALE, May 28, 2013 /PRNewswire/ — The Wolff Company announced today its acquisition of the 3,098-unit “Oasis Portfolio,” comprised of 14 apartment communities located throughout metropolitan Las Vegas.

“This portfolio represents an excellent mix of assets with strong in-place operations and a potential value-add opportunity as the market continues its recovery,” said Fritz H. Wolff, CEO of The Wolff Company.  “We are continuously seeking similar opportunities nationally.”

The Wolff Company focuses on the multifamily sector and makes investments nationally, with a regional emphasis on the West Coast and the Boston to D.C. corridor. Wolff has been acquiring, developing and managing multifamily assets for more than 60 years.

The seller, Sierra Nevada Multifamily Investments, LLC, is a joint venture between DRA Advisors on behalf of an institutional client, and a subsidiary of Camden Property Trust.

“Wolff executed on the closing of the transaction quickly and consistently with the terms negotiated at the onset of the transaction,” said Bob Fisher, General Counsel of Camden and a representative of the seller.