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Waterton sells 400-unit LV apartment complex for $87M

The Las Vegas community, at 2180 E. Warm Springs Road, is part of a two-deal divestment portfolio that totals $162 million, up 15.5% from 2019 pricing.

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Waterton has sold Mirasol Apartment Homes, a 400-unit multifamily property in Las Vegas, for $87 million, according to ConnectCRE.

The buyer is Tishau Holdings Properties. The asset was previously known as Camden Tiara and had been part of a $140.2 million portfolio transaction in 2019 that also included Fairways on Green Valley, a 320-unit community in Henderson, Nevada.

ConnectCRE reports that Waterton divested the portfolio after its 2019 acquisition, marking a 15.5% increase compared with the 2019 price across two separate deals totaling $162 million.

Following the 2019 purchase of Mirasol, Waterton carried out a capital improvement plan that included interior unit renovations and common-area amenity refurbishments, such as pool decks, the gym, and gathering spaces. The property covers 50 two-story, garden-style buildings across 22 acres, with one-, two-, and three-bedroom floor plans averaging 1,042 square feet.

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