Jared Glover Of Berkadia Represents Seller In $41M Sale Of 206-Unit Multifamily Property In Reno

The Element is a 206-unit multifamily property located at 825 Delucchi Lane in the Reno, NV market. The property was sold for $41 million, resulting in a per unit price of approximately $199,029. It features a garden-style design and is situated in a prime area near Meadowood Mall, major retailers, and transit connections. This location is noted for being in one of Reno's top-performing submarkets.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $41,000,000
• Address: 825 Delucchi Lane
• Market: Reno, NV
• Units: 206
• PPU: $199,029
• Broker: Jared Glover - Berkadia

Jared Glover represented the seller, a Los Angeles-based entity, in this transaction facilitated by Berkadia. The deal highlights the ongoing demand for multifamily assets in desirable areas, reflecting the strong market conditions in Reno.