Avison Young’s Sauter Multifamily Group has brokered the sale of Viridian Apartments and Topaz Apartments, two communities totaling 708 units in Las Vegas, for $129.7 million or $183,192 per unit. The assets last traded in 2015 when Ventura Enterprises sold the properties to Infinity Realty Advisors for a combined $47.5 million, Yardi Matrix data shows.
Completed in 1981, Viridian Apartments encompasses 25 buildings and 456 units with studio, one-, two- and three-bedroom apartments, ranging from 400 square feet to 1,100 square feet. Common-area amenities include a tennis and a volleyball court, two swimming pools and two spas, as well as a playground.
Topaz Apartments comprises 21 buildings and 252 units with one- and two-bedroom apartments, ranging between 625 square feet and 900 square feet, with private balconies or patios. Community amenities include a fitness center, clubhouse, tennis court, swimming pool and spa, the same data provider shows.
Within walking distance of each other
Located at 4255 W. Viking Road and 4020 S. Arville St, respectively, the assets are less than half a mile from one another, within a mile of Renaissance Center West shopping center and numerous dining options. Las Vegas city center is 2 miles away from the properties, while Chinatown Vegas is within a mile of both Viridian and Topaz Apartments.
Principals Patrick Sauter, Art Carll-Tangora and Steve Nosrat of Avison Young represented both parties in the transaction. Last year, the same team also brokered the $24 million sale of Crystal Court, and the $41 million sale of The Edmond at Hacienda, two communities totaling 286 units in the same metro.