Avison Young announced today the Sauter Multifamily Group, comprised of Principals Patrick Sauter, Art Carll-Tangora, and Steve Nosrat, based in the firm’s Las Vegas office, have closed the $41.5 million ($199,519 per unit) sale of VIO Apartments, a 208-unit multifamily property located at 764 E Twain Ave, Las Vegas, NV.
Avison Young represented the seller, Laguna Pointe Properties, in the transaction. The property was purchased by Tides Equities, LLC.
“VIO Apartments is an excellent value add property in a great infill location that allows the buyer to continue the renovation program started by the seller,” said Patrick Sauter.
Built in 1972 and renovated in 2019, VIO is a garden-style apartment offering residents one- and two-bedroom floorplans with an average unit size of 889 square feet. The property includes a clubhouse, pool, fitness center, and on-site laundry facility.
VIO is situated in the Las Vegas University District Submarket, and located just minutes from the University of Nevada Las Vegas, Harry Reid International Airport, and the world-famous Las Vegas Strip.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada’s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
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For more information:
Patrick Sauter, Principal, 702.475.7726 Patrick.Sauter@avisonyoung.com
Art Carll-Tangora, Principal, 702.468.3490 Art.Carll@avisonyoung.com
Steve Nosrat, Principal, 702.780.6758, Steve.Nosrat@avisonyoung.com
