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RENO, NEV. — Campbell, Calif.-based Elan Multifamily Investments has acquired Skyline Canyon Apartments, a multifamily property located on four acres off the McCarran Loop in Reno. Oakmont Properties sold the asset for $37.5 million, or $184,069 per unit.
Kenneth Blomsterberg, Ryan Rife and Daniel Winrod of Marcus & Millichap represented the seller and procured the buyer in the deal.
Built in 1973, the property features 204 apartments, with downtown Reno and the Reno Riverwalk District approximately four miles away.