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THE MONTEBELLO AT SUMMIT RIDGE SELLS FOR $56 MILLION

RENO, NEV. — The Montebello at Summit, a 450-unit multifamily community, recently sold for $56 million or $124,444 per unit. Located at 5200 Summit Dr., the 499,995-square-foot property comprises 60 two-story buildings offering one-, two- and three-bedroom units. The community also features a 9,000-square-foot fitness center, a resort-style swimming pool with spa, a playground and a luxury clubhouse. Stanford Jones, Kenneth Blomsterberg, Dylan Mattole and Phil Saglimbeni of Marcus & Millichap brokered the transaction. The seller and buyer were not disclosed.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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