Topanga Management Co. Acquires 192-Unit Multifamily Property In Reno For $68.3M

Cherry Creek Ventures LLC has acquired Westlook Resort Living, a multifamily property located at 4275 West 4th Street in Reno, Nevada. The property consists of 192 units and was sold for a total of $68,300,000, resulting in a per unit price of $355,729. The transaction took place on 05/12/2023.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $68,300,000
• Address: 4275 West 4th Street, Reno, Nevada
• Market: Reno, Nevada
• Buyer: Topanga Management Co. - Bruce Tibbett
• Seller: Ensemble Investments
• Broker: Berkadia
• Units: 192
• Price Per Unit: $355,729

The acquisition of Westlook Resort Living was facilitated by $21.6 million of Fannie Mae financing provided by Berkadia. Bruce Tibbett, the representative of Topanga Management Co., played a key role in the deal as the buyer's representative.