July 27, 2022
Epic Investment Services Sells 176-Unit Las Brisas in Las Vegas, Nevada
Epic Investment Services (“Epic”) has completed the sale of Las Brisas, a 176-unit garden-style apartment complex for $40 million in Las Vegas – nearly double the acquisition price in 2020.
Las Brisas was the first acquisition in Epic’s US Multifamily Fund LP I launched in 2020. Throughout the hold period, Epic activated its value creation program that included renovation of units with modern finishes and improved property amenity package including the addition of a clubhouse, fitness center, business center and games area. As a result of Epic’s value-add programs, Las Brisas realized an IRR that far exceeded the Fund’s targeted IRR of 14% net of fees and promote.
For more information about Epic’s US Multi-Family Fund, visit: https://epicinvestmentservices.com/portfolio-feature/us-multifamily-real-estate-fund-i-lp/