Tides Equities announced the acquisition of Las Brisas de Cheyenne, a 176-unit multifamily property located at 3985 E Cheyenne Avenue in Las Vegas, for $41 million ($227,272 per unit).
Originally constructed in 1999 and renovated in 2020, this property is a two-story garden-style apartment community featuring one-, two-, and three-bedroom floor plans with an average unit size of 720 square feet.
The asset will be rebranded as The Tides at Walnut Park and will undergo $4,000,000 in renovations and upgrades. This purchase marks Tides’ 23rd acquisition in the greater Las Vegas area since the company founded in 2016.
Avison Young’s Sauter Multifamily Group, comprised of Principals Patrick Sauter, Art Carll-Tangora, and Steve Nosrat, represented the seller, Epic Investments.
The current seller bought the property in 2020 through its subsidiary MDC Realty Advisors for $22 million.