PAHRUMP, Nev. – Las Vegas-based real estate investment, development and asset management company, Camino Verde Group, has acquired a property featured in the iconic 1980s film Rain Man, starring Tom Cruise and Dustin Hoffman.
The Pahrump property is best known for being the location in Rain Man where Charlie (Tom Cruise) becomes aware of Raymond’s (Dustin Hoffman) unique abilities. At the time that the movie was filmed, the group of buildings was a restaurant and bar, 10-room hotel and gaming facility.
The property is located at 4021 Hwy 160 in Pahrump and encompasses more than an acre. It will be converted for residential living. As part of the acquisition agreement, it includes a master lease with a Las Vegas-based housing group.
Camino Verde Group is one of the few local firms focused on acquiring older or neglected properties in Southern Nevada that are in need of rehabilitation.
“We have had great success in purchasing older properties in Midtown Las Vegas and restoring them so that they are once again safe and comfortable for residents,” said Kevin Romney, co-founder and managing director of Camino Verde Group. “We are now extending our reach into Pahrump and are thrilled to have acquired a property with such a unique background.”
In the two years that Camino Verde Group has been in operation, the company has acquired and rehabilitated six midcentury multifamily communities in Midtown Las Vegas, including its most recent acquisition of a vintage apartment community at 2630 Sherwood Street. The company has also purchased multiple properties in need of restoration all over the country, including in states as far as Kentucky and Iowa.
The recently acquired property is conveniently located along Highway 160 that connects residents to Southern Nevada’s major towns and cities. The community is just a five-minute drive to the center of Pahrump and is roughly an hour outside of Las Vegas.
For information on Camino Verde Group’s portfolio of multifamily properties, visit www.scotte16.sg-host.com.