Las Vegas, NV – 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.