Elan Multifamily Investments Secures $33.5 Million Refinance Loan For 204-Unit Multifamily In Reno

The asset involved in this transaction is a 204-unit multifamily property located at 3300 Skyline Boulevard in Reno, NV. The property has been refinanced with a loan amount of $33,500,000 through a Fannie Mae loan. The loan has a term of five years and features a fixed interest rate.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $33,500,000
• Address: 3300 Skyline Boulevard
• Market: Reno, NV
• Asset Units: 204
• Landlord: Elan Multifamily Investments
• Loan Type: Refinance
• Loan Terms: five-year, fixed rate
• Brokers: Lowell Takahashi & Vincent Punzi - Newmark

This transaction was facilitated by Newmark, with brokers Lowell Takahashi and Vincent Punzi originating the loan for Elan Multifamily Investments, the owner of the property. The refinancing aims to optimize the financing structure of the Ascent on Steamboat multifamily community.