(Read more on the multifamily market.)
RENO, NV-Multifamily real estate syndicator Hamilton Zanze &Co. recently closed on a pair of apartment properties here onbehalf of multiple investors. Working with Wachovia Securities,Hamilton Zanze raised approximately $20 million of equity for the$77.35-million, 720-unit acquisition.
The purchase includes Mountain Shadow, a 404-unit, 61-buildingcomplex built in 1987 in the southwest submarket, and SummitTrails, a 318-unit, 40-building complex built in 1991 in thenorthwest submarket. Mountain Shadow sits on 25.6 acres at 695 EastPatriot Blvd. Summit Trails sits on 21.9 acres at 1350 Grand SummitDr.
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