Landing 36 has barely had time to get its welcome mats dirty, and it is already trading hands for close to $80 million on North Rancho Drive. The newly built, 308-unit complex at 2555 N. Rancho Drive, sitting across Rancho from the North Las Vegas Airport, sold last month in a deal that effectively prices the community just shy of the $80 million mark. Property records peg the sale at about $77 million, while an investor involved in the deal put the “total consideration” closer to $79 million.
The Buyer and the Price
Public records list the purchase price at $77 million, but Jackson Cloak, managing partner of Newport Beach-based PCE Holdings, told the Las Vegas Review-Journal that his firm reports the “total consideration” at $79 million. The deed itself names an Indiana group as the buyer. Cloak told the Las Vegas Review-Journal that this entity represents one of his investment partners, rather than signaling a totally separate player swooping in from the Midwest.
What the Complex Offers
Landing 36 spreads its 308 apartment homes across three stories, with a mix that runs from studios to three-bedroom units. According to ApartmentFinder, the community is planned at 308 units, giving it a sizeable footprint for that stretch of Rancho.
The project is not skimping on modern finishes or curb appeal. As Apartments.com notes, units feature quartz countertops and stainless steel appliances, while the shared amenities include a fitness studio, clubhouse, swimming pool and a tot lot aimed at families with young kids.
Leasing Timeline and the Developer
Cloak told the Las Vegas Review-Journal that the first apartments at Landing 36 opened in February or March 2025, with the leasing office and clubhouse trailing behind and opening in the summer. He said roughly half of the units are leased so far, which means the new owner is stepping into a property that is still in full-on lease-up mode.
City records show Las Vegas developer Brock Metzka was part of the team that brought Landing 36 out of the ground and ultimately sold the project. For Metzka and his group, the near-$80 million sale effectively closes the book on the development phase and hands the day-to-day challenges of filling units to the buyer group.
Where It Sits in the Broader Development Push
The sale slots into a bigger redevelopment story along Rancho Drive. Just up the road, the planned Hylo Park mixed-use project is slated for the former Texas Station and Fiesta Rancho casino sites. As reported by CoStar, Hylo Park is a roughly 73-acre plan that aims to bring in retail, housing and athletic facilities, a combination that could crank up demand for nearby rentals like Landing 36.
For now, the new owners are staring down a relatively simple but high-stakes to-do list: lease up the roughly half of the units that remain vacant and carve out a competitive niche against other fresh deliveries in the Las Vegas market. Whether paying close to $80 million proves savvy or steep will depend on how quickly those remaining apartments fill and what kind of rents they can command over the next year.
