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Four Peaks Multifamily Partners Acquires 133-Unit Apartment Property In Reno, Nevada For $28.25M From Kingsbury Property Management

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SOLD
$28,250,000

Nevada

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MultiFamily
Sold 07/20/2023
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Property Image
SOLD

Four Peaks Multifamily Partners Acquires 133-Unit Apartment Property In Reno, Nevada For $28.25M From Kingsbury Property Management

1450 Idlewild Drive

See Similar Deals
MultiFamily
Sold 07/20/2023
the dealplayerscompscontact
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Summary

NEVADA
Asset Type:MultiFamily
Transaction Type:Sale

The Villages at Idlewild Park, a 133-unit apartment property located at 1450 Idlewild Drive in Reno, Nevada, has been sold for $28.25 million. The multifamily asset, purchased by Four Peaks Multifamily Partners' affiliate, offers a mix of studio, one-bedroom, and two-bedroom units. Situated just over a mile from Reno's downtown, the property boasts amenities such as a swimming pool, fitness center, and pet park.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $28,250,000
  • Units: 133
  • Price Per Unit: $212,406
  • Buyer: Four Peaks Multifamily Partners - Daniel Ross
  • Seller: Kingsbury Property Management

Four Peaks Multifamily Partners' affiliate, led by Daniel Ross, acquired the Villages at Idlewild Park from Kingsbury Property Management. As a prospective buyer, Daniel Ross recognized the value of this well-appointed multifamily property offering a range of living options.

Players

DR
Daniel M. Ross
2 deals$36.6M volume
BUYER

Details

SOLD
IMAGE: Daniel Ross DATE: 07/20/2023 ADDRESS: 1450 Idlewild Drive MARKET: Reno, Nevada ASSET TYPE: Multifamily BUYER: Four Peaks Multifamily Partners - Daniel Ross SELLER: Kingsbury Property Management SALE PRICE: $28,250,000 UNITS: 133 ~ PPU: $212,406 NOTE: Four Peaks Multifamily Partners' affiliate bought the Villages at Idlewild Park, a 133-unit apartment property in Reno, Nevada, for $28.25 million from Kingsbury Property Management. The property offers studio, one- and two-bedroom units with amenities like a swimming pool, fitness center, and pet park, situated just over a mile from Reno's downtown.

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