Quail Meadows, a multifamily property located at 5599 Quail Manor Ct in Reno, Nevada, has been sold for $14,500,000. The property spans 5.4 acres and consists of 56 units, with an average price per unit of $258,929. The total square footage of the property is 53,140, and the price per square foot is $273.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $14,500,000
• Address: 5599 Quail Manor Ct, Reno, NV
• Market: Reno, NV
• Acres: 5.4
• Units: 56
• Price per Unit: $258,929
• Square Footage: 53,140
• Price per Square Foot: $273

The property was sold by QM56 LLC. The transaction was facilitated by Ben Nelson, Gerrit Hillebrand & Jim Henderson, brokers from Kidder Mathews.

Quail Meadows was acquired by a private real estate investment firm based in San Jose, California. The sale of the property highlights the attractiveness of the Reno market for multifamily investments. It demonstrates the significant demand for properties in this area and the confidence of investors in the potential for growth and returns.