Marcus & Millichap close multifamily asset sale in Reno

Marcus & Millichap announced the sale of Vista Ridge Apartments, a 324-unit multifamily asset in Reno. The property sold for $76 million.

Blomsterberg, Ryan Rife, and Daniel Winrod represented the seller, Arthur Vista Ridge LLC, and procured the buyer, Tilden Properties and IDEAL Capital Group.

Located in northwest Reno, Vista Ridge Apartments is accessible from Interstate 80 and Nevada State Route 659. Built in 1996 on 19 acres, the controlled-access property has fitness and business centers, a swimming pool, and tennis and basketball courts.

The unit mix is all one, two, and three-bedroom apartments. Units have vaulted ceilings, and washers and dryers. The average unit size is 820 square feet.

For information, visit www.MarcusMillichap.com