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.
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.
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.