Township Capital Sells 176 - unit Las Brisas in Las Vegas, Nevada
LOS ANGELES, Aug. 17, 2022 /PRNewswire/ -- Township Capital ("Township") in partnership with Epic Investment Services ("Epic") has completed the sale of Las Brisas. The 176-unit garden-style apartment complex sold for $40 million – nearly double the acquisition price in 2020, achieving a project level 55% IRR. Las Brisas marked the first acquisition in the Epic Multifamily Fund I launched in 2020. Throughout the hold period, a $1.29 million renovation was completed. The renovation included modern unit finishes, improved property amenity package including the addition of a clubhouse, fitness center, and business center.
Las Brisas is a 176-unit garden-style, gated apartment community located within the northeast township of Sunrise Manor in Las Vegas. Constructed in 1999 Las Brisas offers efficient 1, 2 and 3 bedroom floor plans with an amenity package that includes a swimming pool, playground, gated community and laundry facilities.
Township Capital, LLC is a leading co-GP real estate investment firm headquartered in Beverly Hills, CA. Founded by CEO Matthew Gorelik in 2014, the firm has experience investing across all major property types with a specialty in student housing, senior living, multifamily, and industrial. For more information on Township Capital, visit townshipinc.com
Epic Investment Services, which includes its wholly owned subsidiary MDC Realty Advisors in the United States, is a fully integrated North American real estate platform. Epic's Canadian head office is located in Toronto, Ontario and its U.S. head office is located in Denver, Colorado. Epic's portfolio comprises over 30 million square feet and $17.5 billion in assets under management in office, retail, industrial and multi-family residential properties.
Media Contact:
Estin Stewart
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SOURCE Township Capital
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