CARSON CITY, NV—CBRE says it recently helped complete the $18,650,000 sale of the 176-unit Parkway Manor Apartments in Carson City, representing the largest sale of an apartment property over 100 units in the Carson Valley since 2007.

Aiman Noursoultanova, of CBRE's Reno office represented the buyer in the transaction. This Class A apartment community located in the heart of Carson's commercial and professional corridor was purchased by an affiliate of the San Francisco-based, privately held real estate investment firm Village Properties and sold at a 6.94% cap rate.

 According to Noursoultanova, “Parkway Manor Apartments is a Class A asset offering the best amenities in the market, spacious floor plans and stable occupancy. Located in Nevada's state capital constrained with available land for development, Parkway Manor will be a strong-performing asset for the new owner well into the future. The buyer was selected through a competitive bid process indicating a strong appetite from the investment community for trophy multi-family assets.”

Parkway Manor Apartments is surrounded by class A retail and various office developments, and the asset offers a timeless aesthetic appeal and an attractive unit mix with large and spacious floor plans. From the convenient north Carson location with mature landscaping, a swimming pool and spa, Parkway Manor offers amenities including gated entryway/controlled access, a fitness center, a clubhouse complete with a kitchen, business center, detached garages, attractive garden and landscaped grounds, and short walks or drives to nearby retail and restaurants.

Ken Blomsterberg of Marcus & Millichap represented the seller.