Wednesday, August 5, 2026
San Diego's CONAM expands Las Vegas portfolio with acquisition
The company buys 232-unit Alicante Apartment Homes in southwest Las Vegas as it continues investing in multifamily properties in high-growth markets.
Photo courtesy of CONAM Group
Alicante Apartment Homes, a 232-unit, garden-style community in Las Vegas, has been acquired by San Diego’s CONAM Strategic Investments Fund IV.
Alicante Apartment Homes, a 232-unit, garden-style community in Las Vegas, has been acquired by San Diego’s CONAM Strategic Investments Fund IV.
The CONAM Group has expanded its Southern Nevada portfolio with the acquisition of a 232-unit apartment community in southwest Las Vegas through its latest real estate investment fund.
Financial terms of the purchase of Alicante Apartment Homes were not disclosed.
The acquisition was made by CONAM Strategic Investments Fund IV LP, a discretionary investment fund sponsored by the San Diego-based multifamily real estate investment and management company. The purchase marks the fund's latest investment and expands CONAM's presence in the Las Vegas market.
Built in 2001, Alicante Apartment Homes occupies 11.3 acres in the Spring Valley area, less than a mile from the Summerlin master-planned community. The garden-style complex consists of two-story buildings with one-, two- and three-bedroom apartments averaging 1,092 square feet.
The property includes renovated units with luxury vinyl plank flooring, quartz countertops, stainless steel appliances and full-size washers and dryers. Community amenities include a swimming pool and spa, fitness center, clubhouse, dog park, playground, package lockers and gated access.
CONAM officials said the property's larger-than-average floor plans and low-density design have contributed to strong occupancy and resident retention.
The complex is near several major employment centers, including Southern Hills Hospital, St. Rose Dominican Hospital-San Martin Campus, the UnCommons mixed-use development and the growing UNLV Tech Park.
"Alicante fits squarely within our investment strategy -- well-built suburban communities in markets with durable demand drivers, strong demographics and attractive relative value," Zach Markell, CONAM's acquisitions director, said in a statement. "CONAM has been an owner and operator in Southern Nevada for decades, and this investment is a great addition to our existing portfolio in the Las Vegas market."
CONAM said its Fund IV continues to seek acquisitions of well-located multifamily communities in high-growth U.S. markets.
Founded in 1975, CONAM provides property management, investment, development and construction management services. The company manages more than 60,000 apartment units across more than 500 properties in 26 metropolitan areas, spanning 11 states.
Financial terms of the purchase of Alicante Apartment Homes were not disclosed.
The acquisition was made by CONAM Strategic Investments Fund IV LP, a discretionary investment fund sponsored by the San Diego-based multifamily real estate investment and management company. The purchase marks the fund's latest investment and expands CONAM's presence in the Las Vegas market.
Built in 2001, Alicante Apartment Homes occupies 11.3 acres in the Spring Valley area, less than a mile from the Summerlin master-planned community. The garden-style complex consists of two-story buildings with one-, two- and three-bedroom apartments averaging 1,092 square feet.
The property includes renovated units with luxury vinyl plank flooring, quartz countertops, stainless steel appliances and full-size washers and dryers. Community amenities include a swimming pool and spa, fitness center, clubhouse, dog park, playground, package lockers and gated access.
CONAM officials said the property's larger-than-average floor plans and low-density design have contributed to strong occupancy and resident retention.
The complex is near several major employment centers, including Southern Hills Hospital, St. Rose Dominican Hospital-San Martin Campus, the UnCommons mixed-use development and the growing UNLV Tech Park.
"Alicante fits squarely within our investment strategy -- well-built suburban communities in markets with durable demand drivers, strong demographics and attractive relative value," Zach Markell, CONAM's acquisitions director, said in a statement. "CONAM has been an owner and operator in Southern Nevada for decades, and this investment is a great addition to our existing portfolio in the Las Vegas market."
CONAM said its Fund IV continues to seek acquisitions of well-located multifamily communities in high-growth U.S. markets.
Founded in 1975, CONAM provides property management, investment, development and construction management services. The company manages more than 60,000 apartment units across more than 500 properties in 26 metropolitan areas, spanning 11 states.
