Berkadia announced today the $113.5 million sale of Wynn Palms, a 555-unit garden-style multifamily property in Las Vegas, Nevada. Director Jared Glover of Berkadia Las Vegas completed the sale on behalf of the buyer, California-based Tides Equities. The seller was 3D Investments LLC, also based in California, and the deal closed on November 16.
“The acquisition of Wynn Palms allows Tides to continue building scale around both Chinatown and the resort corridor, capitalizing on record job growth and overall economic recovery in the market,” said Glover. “They plan to implement a strong value-add program, modernizing the units while adding a premier amenity set to the property as a whole.”
Located at 3800 Wynn Road, Wynn Palms features one- and two–bedroom floor plans with walk-in closets and air conditioning. Community amenities include three swimming pools, six laundry facilities and a playground. The property affords residents convenient access to the Las Vegas Strip, McCarran International Airport and the shops and restaurants along W Flamingo Road.
Source: Berkadia
