250-unit apartment complex trades hands in Reno
Woodside Village , a 250- unit apartment complex in Reno, sold in April, according to Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada. " Woodside Village is a strong-performing asset in an excellent in-fill location," said Kenneth N. Blomsterberg, senior vice president investments in Marcus & Millichap's Reno office. "The property gives new ownership the opportunity to increase revenue through loss-to-lease capture and the implementation of cosmetic enhancements to unit interiors . The ability to enhance revenue through a renovation program has been demonstrated by previous ownership and also by several other apartment communities within the immediate competitive set." The complex is located along a high-traffic thoroughfare at one of Reno's largest intersections, the corner of Kietzke Lane and Virginia Street. The Reno- Sparks Convention Center is across the str...
