Colliers Negotiates $64M Sale of Silver Ridge Apartments in Reno
RENO, NEV. — Colliers International has arranged the sale of Silver Ridge Apartments, located at 1555 Sky Valley Road in west Reno. A private seller sold the asset to a partnership between Ideal Capital Group and Tilden Properties for $64 million.
Kalah Espinoza with Colliers’ San Francisco-based Multifamily Investments Team and Melissa Molyneaux with Colliers’ Reno office represented the seller and procured the buyer in the transaction.
Constructed in 1990, Silver Ridge offers 300 units in a mix of one-, two- and three-bedroom townhouse units averaging 1,000 square feet. Situated on 20 acres, the 295,840-square-foot property also has entitlements in place to allow for an additional 70 units to be developed within the existing site plan.