LAS VEGAS — April 28, 2022 — Berkadia announced today the sale of Skyline Parc Apartments, a 193-unit garden-style multifamily property located in Las Vegas, Nevada. Director Jared Glover of Berkadia Las Vegas completed the $37.3 million sale on behalf of the seller, California-based Laguna Point Properties LLC, and the buyer, California-based Tides Equities. The deal closed on April 28.
“The Las Vegas multifamily market continues to attract record amounts of capital, with strong underlying fundamentals and record in-migration, leading to high occupancy and double-digit rent growth,” said Glover. “With proximity to both UNLV and the Las Vegas Strip, Skyline Parc presented Tides Equities with an opportunity to acquire a value-add asset well below replacement costs near major demand drivers.”
Located at 3675 Cambridge St., Skyline Parc Apartments features one- and two-bedroom floor plans with air conditioning and dishwashers. Community amenities include two swimming pools, a fitness center and laundry facilities. The property affords residents convenient access to Wynn Golf Club, Las Vegas National Golf Course, Sunrise Hospital and Medical Center and the shops and restaurants near East Twain Avenue.