This email address is being protected from spambots. You need JavaScript enabled to view it., Jerad Roberts, and This email address is being protected from spambots. You need JavaScript enabled to view it. of Northcap Commercial are pleased to announce the strategic acquisition of Morrell Park Apartments for $24,000,000 ($150,000/unit). This distinguished 160-unit community, built in 1981 and located at 525 Harris Street in Henderson, Nevada, represents a rare off-market opportunity in the Las Vegas Valley.
In a market where quality opportunities rarely surface publicly, this exclusive HUD loan assumption transaction demanded articulated speculation and patience. The buyer's strategic positioning and financial acumen proved instrumental in securing the asset and completing the intricate loan requirements amidst current market uncertainties.
Parker Pinkalla, Lead Principal for Tailwind Investment Group quotes: "Northcap Commercial's expertise in sourcing and navigating this off-market deal was invaluable. Their team guided us through each hurdle with professionalism and strategic insight that made the process feel seamless, despite many complexities. They’ve earned our trust, and our next deal!”
The transaction closed on December 3rd, 2025, with Northcap representing the Buyer.
For additional information, please contact:
Devin Lee, CCIM
Northcap Commercial
This email address is being protected from spambots. You need JavaScript enabled to view it.
(702) 369-8618
Tivoli Village
400 S. Rampart Blvd., Suite 220
Las Vegas, NV 89145
Northcap is a Las Vegas-based, international real estate company focused on acquisition, brokerage and property management. Founded by John Tippins, the company offers an array of services extending into residential and commercial property management, sales and advisory roles. As a brokerage, Northcap’s team has closed on nearly $3.5 billion in transactions. Northcap is a premier real estate operator that holds the distinction of being named to Forbes Travel Guide. Northcap is also actively involved in their home community with the Downtown Las Vegas Alliance, Fremont Street East Entertainment District, the City of Las Vegas, the UNLV College of Business Board, UNLV Advisory Board and Helping Hands of Vegas Valley.
