RENO, NV – An eight-asset, 1,077-unit multifamily portfolio in Reno, NV has traded for $302.5 million. The purchase price equates to $280,872 per unit.
Encompassing properties that were built between 1958 and 2021, the ERGS portfolio includes the 352-unit North Peak Apartments, the 352-unit Silver Lake Apartments, the 232-unit Sierra Sage Apartments, the 40-unit Vale Apartments, the 16-unit Vale Townhomes, the 30-unit Peavine Peaks, the 7-unit Oak Manor and the 8-unit, Angel Street Apartments.
Marcus & Millichap closed the sale. The firm's senior managing director of investments Kenneth Blomsterberg, first VP of investments Ryan Rife and associate Daniel Winrod represented the seller and procured the buyer.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
