A 450-unit apartment complex in northwest Reno has been sold by its Houston-based owner.
Camden Property Trust said last week it sold the Camden Bluffs community at 5200 Summit Ridge Drive to The Delta Group, a company based in the New York City area.
The transaction also included adjacent undeveloped land.
The sale of Camden Bluffs was part of a deal in which Camden also sold the 336- unit Camden Harbor project in Las Vegas to The Delta Group.
The price for the combined transactions was $70 million.
Kim Callahan, a spokeswoman for Camden Property Trust, said the company decided to sell the Reno project because it was the only property the company owns in the region.
That's less efficient than purchasing clusters of properties within a region.
Camden will continue to manage the Camden Bluffs community, which it owned for four years before the sale.
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