CARSON CITY, NV—CBRE says it recently helped complete the $18,650,000 sale of the 176-unit Parkway Manor Apartments in Carson City, representing the largest sale of an apartment property over 100 units in the Carson Valley since 2007.
Aiman Noursoultanova, of CBRE's Reno office represented the buyer in the transaction. This Class A apartment community located in the heart of Carson's commercial and professional corridor was purchased by an affiliate of the San Francisco-based, privately held real estate investment firm Village Properties and sold at a 6.94% cap rate.
According to Noursoultanova, “Parkway Manor Apartments is a Class A asset offering the best amenities in the market, spacious floor plans and stable occupancy. Located in Nevada's state capital constrained with available land for development, Parkway Manor will be a strong-performing asset for the new owner well into the future. The buyer was selected through a competitive bid process indicating a strong appetite from the investment community for trophy multi-family assets.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
