Regionally, overall demographics are strong and things bode well in the long term for the Las Vegas Market. Rents are projected to remain flat through the end of the year while cap rates slowly increase.
Las Vegas, NV (PRWEB) June 11, 2008
Advanced Management Group (AMG), a Las Vegas-headquartered property management company, specializing in the multifamily segment, announced today that it is relocating to larger office space reflecting the company's recent growth and confidence in the Las Vegas marketplace. AMG's new offices are located at 2775 S. Rainbow, Las Vegas, Nevada.
Less than two years old, Advanced Management Group, was founded during an economic downturn and is better equipped than its competition to thrive under current conditions. "Our business model is both evolutionary and revolutionary," said AMG Partner Bret Holmes. Unlike most management companies, Advanced Management Group bases its property management fees on a performance level that is mutually agreed upon between AMG and the property owner.
The company's unique fee structure is one element of its growth strategy. "How to grow your business is always a challenge," Holmes said. "We intend to have a regional footprint."
Holmes, who is the president-elect of the Southern Nevada Multi-housing Association says, "Regionally, overall demographics are strong and things bode well in the long term for the Las Vegas Market. Rents are projected to remain flat through the end of the year while cap rates slowly increase."
Further commenting on the Las Vegas market, Holmes said, "In the multifamily property segment, we're still seeing out-of-state investor activity. Plus, indications are that the long-term industry prospects are good as an influx of newcomers, associated with upcoming Strip projects, lease apartments."
Advanced Management Group can be reached at 702-699-9261. Visit the AMG web site at http://www.amgnevada.com.