SOURCE: Veer Towers

January 07, 2014 10:00 ET

100 Sales Closed at Veer Towers in Less Than One Year

Next 100 Luxury Units Being Released as Demand Grows

LAS VEGAS, NV--(Marketwired - January 07, 2014) - Sales at Veer Towers have continued to outpace projections and the project is now one of the leaders in the luxury real estate market in Las Vegas. Since Pordes Residential Sales and Marketing took over sales in February 2013, buyers have swept up units and Veer Towers is now celebrating 100 closings.

"Our goal was to close the first 100 units within the first year and we have achieved that two months faster than expected," said Jim Navarro, Vice President of Sales for Pordes Residential. Buyers have come from destinations across the United States and around the world. The strong attraction to the incredible location will only continue to grow as new developments and venues come alive on the Vegas Strip.

A neighboring project being planned by MGM Resorts International provides further evidence that the market in Las Vegas is strong. The company has announced plans to build a state of the art 20,000-seat arena in partnership with entertainment powerhouse AEG. The arena will be the centerpiece of a complete revitalization of the area between New York-New York and Monte Carlo resorts, extending from Las Vegas Blvd. to Frank Sinatra Drive. The front facades of New York-New York and Monte Carlo are being transformed into an outdoor plaza experience featuring a series of casual bars, eateries and retail destinations.

Vegas real estate is doing extremely well across the board, both commercial and residential real estate numbers are on the rise. Las Vegas posted an impressive year-over-year increase of 29.1% in September, according to the most recent Case-Shiller Home Price Indices report. "The second and third quarters of 2013 were very good for home prices," says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. "Twelve cities posted double-digit annual returns. Regionally, the West continues to lead with Las Vegas gaining 29.1% year-over-year followed by San Francisco at 25.7%, Los Angeles at 21.8% and San Diego at 20.9%."

"There is nothing but good news coming from Las Vegas," said Mark Pordes, CEO of Pordes Residential. "The business plan was to close on the first 100 sales while leasing out the rest of the inventory and then decide what to do with the remaining ones, but with the market accelerating into 2014 we are now ready to release the next 100 units for sale at Veer Towers."

The two 37-story Veer Towers stand out from all other condominium projects in Las Vegas. Designed by world-famous Murphy/Jahn*, the towers lean across each other at a 5 degree angle, glistening in gold. Residents enjoy incomparable views of Las Vegas from their residence as well as the rooftop entertainment areas that feature infinity edge swimming pools, hot tubs, sun decks and summer kitchens. No other community offers luxury shopping, fine dining, world-class entertainment and gaming within walking distance. Residents are surrounded by the luxury and convenience of The Shops at Crystals, the Gallery Row Shops, ARIA Resort & Casino, Vdara Hotel & Spa, and Mandarin Oriental, Las Vegas.

The Pordes Residential sales team is selling studio, one-, two- and three-bedroom condominiums at prices of $275,000 to more than $1.8 million. For more information on Veer Towers, contact the Pordes Residential sales office at 702-748-8285. The sales office is open seven days a week and nighttime showings are available. Financing options are available.

Neither Pordes Residential nor the owner of the Veer units is affiliated with MGM Resorts International.

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