Kurt Houtkooper Of Hamilton Zanze Acquires Multifamily Properties In Reno From Kromer Investments For $122M

The sale involved two multifamily properties located at 1877 El Rancho Drive and 2600 Eastshore Drive in the Sparks and Reno, NV market. These assets have a combined total of 776 units, with a total sale price of $122,000,000. The properties consist of Sand Pebble/Spanish Oaks, which has 448 units, and Lakeview, which houses 328 units. The average price per unit for the transaction is $157,216.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $122,000,000
• Buyer: Kurt Houtkooper - Hamilton Zanze
• Seller: Kromer Investments
• Units: 776
• Price Per Unit (average): $157,216

Kurt Houtkooper represented Hamilton Zanze in the acquisition of the two properties, which were purchased through the HZ Capital Partners Fund I. This deal marks a significant transaction in the multifamily sector within the Reno market and showcases the ongoing investment interest in this area.