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9/25/24
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Prism Multifamily Group has acquired Cascade Apartments, a 261-unit multifamily property in Henderson, NV, for $45.5 mil, or $174.3k/unit. The buyer plans to complete a property renovation plan to better capitalize on the growing Henderson market.
The property is located at 1100 North Center St, just east of Lake Mead Pkwy. Situated in the Valley View submarket in Henderson, Cascade Apartments sits on just over 10 acres along Center St and East of Warm Springs Rd.
Originally constructed in 1982, the asset provides a two-story garden-style apartment community featuring one- two- and three-bedroom floor plans with an average unit size of approximately 949 sf. The property is situated near the Cadence Master planned community and approximately a 12-minute drive away from Lake Las Vegas.
Patrick Sauter, Art Carll-Tangora, Steve Nosrat and Michael Albanese with Avison Young’s Sauter Multifamily team represented the buyer, Prism Multifamily Group, and the seller, 3D Investments, in the transaction.
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