Rob Sabo

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October 22, 2012
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Apartment complexes draw multiple offers

Sales of multi-family properties in the greater Reno-Sparks area continue to heat up after several lukewarm years.Premier apartment properties taken to market are drawing multiple offers from buyers from throughout the country, and traditional deals are finally getting done after years of purchases out of foreclosure. Several large bank-owned properties in the Truckee Meadows eventually will be put up for sale, but more standard market deals are expected in coming months as interest rates hover around 4 percent, says Ken Blomsterberg, first vice president of investments and director of Marcus and Millichap's national multi-family housing group.The most significant deal this …

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Northern Nevada Business Weekly Updated Oct 22, 2012 12:00AM Published Oct 22, 2012 12:00AM Copyright 2012 Northern Nevada Business Weekly. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.