Sunstone Properties Acquires Multifamily In Las Vegas For $36.93M

The multifamily property located at 5400 W Cheyenne Avenue in Las Vegas, NV has been sold in a recent transaction. The property, consisting of 228 units, was sold for a total price of $36,936,000. This equates to a price per unit (PPU) of $162,000. The sale was facilitated by Thomas Olivetti from Northmarq, who represented the buyer, Sunstone Properties, in the transaction. The seller in this deal was Bridge Investment Group.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $36,936,000
• Address: 5400 W Cheyenne Avenue, Las Vegas, NV
• Number of Units: 228
• Price Per Unit (PPU): $162,000
• Buyer: Sunstone Properties
• Seller: Bridge Investment Group
• Broker: Thomas Olivetti - Northmarq

The involvement of Thomas Olivetti from Northmarq as the broker in this transaction highlights the professional representation provided to the buyer, Sunstone Properties. The successful sale of this multifamily property further strengthens the real estate market in Las Vegas, NV.