Updated Dec 20, 2023
Marcus & Millichap Brokers $302.5M Multifamily Sale In Reno, NV
8001 Military Road, Reno, Nevada 89506, United States
$302,500,000
Units
1,077
Asset Type
MultiFamily
Closing
Mar 30, 2022
About this deal
AI
The ERGS Portfolio, consisting of six multifamily properties located at 8001 Military Rd., 7350 Silver Lake Rd., 6060 Silver Lake Rd., 9401 Lemmon Dr., 5910 Silver Lake Rd., and 1055 Oak St., has been sold in a closed transaction in Reno. The transaction was handled by Marcus & Millichap brokers Kenneth Blomsterberg, Ryan Rife, and Daniel Winrod.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $302,500,000
- Units: 1,077
- Price per Unit: $280,872
The ERGS Portfolio sale in Reno involved a total of 1,077 multifamily units. The transaction was closed for a total amount of $302,500,000, resulting in an average price per unit of $280,872. The properties included in the portfolio are located at 8001 Military Rd., 7350 Silver Lake Rd., 6060 Silver Lake Rd., 9401 Lemmon Dr., 5910 Silver Lake Rd., and 1055 Oak St. The deal was facilitated by Marcus & Millichap brokers Kenneth Blomsterberg, Ryan Rife, and Daniel Winrod.
On the Map
$302,500,000
MultiFamily
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Players
Reno MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93