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

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.