RENO, NEV. — Petaluma, Calif.-based Basin Street Partners has acquired Waterfront Plaza, a 145,000-square-foot office tower located at 300 E. Second St., and two adjacent hotel properties, which are located at the intersection of East Second and Nevin streets in Reno. The company has a $6 million capital improvement renovation planned to convert the Waterfront Plaza into a Class A office building. Additionally, Basin Street Partners is developing Hyatt Summerfield Suites on the hotel properties. The new six-story hotel will offer 148 rooms. TRT Investments sold Waterfront Plaza for an undisclosed price. Basin Street Partners purchased the hotel properties from the City of Reno and a private investor.