SRG to Manage Vestra Homes at UnCommons

LAS VEGAS -- SRG Residential has been awarded management of Vestra, a curated collection of apartment homes at UnCommons, an $850 million, 40-acre mixed-use community in Southwest Las Vegas developed by Matter Real Estate Group.

UnCommons, which broke ground in 2020, features a vibrant, walkable community of residential, dining, recreation, and workspaces.

As part of its second phase now under construction, UnCommons will offer more than 807 total residential units upon completion, joining a fast-growing list of discerning brands and office tenants ranging from world-class restaurants to global organizations.

SRG secured the management agreement and transitioned the property in late December 2023.

“We are deeply appreciative to Matter Real Estate Group for entrusting SRG with one of their most unique and exciting mixed-use developments in Las Vegas,” said Tina West, Executive Vice President, Client Advisory Group for SRG Residential. “This project is truly ‘uncommon’ in every sense –– it represents the intersection of life, work, and community. We’re thrilled to bring our team’s passion, vision, and commitment to Vestra and UnCommons and help take this one-of-a-kind experience to the next level for Las Vegas residents and businesses.”

Vestra, the first residential development at UnCommons, features three midrise towers comprised of 352 modern apartment homes. The first phase –– which is fully leased up ––– was met with strong demand, with prospective tenants vying for an opportunity to be part of the thriving community over traditional apartment amenities.

The proof can be seen in the numbers; Vestra’s second phase opened in Mid-November 2023, and 28 leases were recorded by the end of the year.

Embracing the lively community feel of UnCommons, Vestra’s engaging spaces focus on common areas that bring people together, including co-working spaces with Zoom rooms for remote or hybrid workers, a pet park and spa, and a media room.

Vestra also boasts an enviable resort-style outdoor scene, complete with a pool house, swimming pool, cabanas, fireplaces, and grills. Studio, one-, two- and three-bedroom floorplans are offered, along with a limited selection of penthouses. Premium finishes and smart home technologies come standard with every unit, along with secure garage parking and EV-charging stations. Top-rated dining establishments and bars are also integrated within the community.

“We’ve lived and worked where we build, own, and manage,” said Jeff Bailey, President of SRG Residential. “Having that deep, localized expertise –– which spans more than 35,000 apartment homes over 7 states, in our portfolio to date –– gives us a deeper understanding of community nuances and preferences, which results in superior results and returns for everyone involved. While expanding our engagement in the Las Vegas Market, we’re eager to apply our insights and experience and build trusted, lasting relationships not only with the residential communities of Vestra, but with UnCommons’ retail, business, and investment partners.”

UnCommons’ third phase of the development will feature 455 modern residences upon completion.

For more information, go to www.srgliving.com,  https://vestraliving.com/homes/, www.UnCommons.com, or www.MatterRealEstate.com.