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Phoenix & Southwest  + Southwest  + Apartments  |  November 9, 2021
2777 Northtowne Ln. Reno, NV multifamily acquisition
Lisa Brown
By: Lisa Brown

Kennedy Wilson Fund Plans to Capitalize on Reno’s Strong Fundamentals

Northtowne Summit, a 220-unit garden-style multifamily property in Reno, NV, recently sold for $66 million. The buyer was Kennedy-Wilson Fund VI, a commingled fund managed by Beverly Hills-based Kennedy Wilson.

Jared Glover of Berkadia Las Vegas completed the sale on behalf of the seller, California-based Seagate Properties, and the buyer.

“Reno’s focus on economic diversification over the past decade has enabled the city to outperform expectations throughout COVID, trending back towards full employment with continued record population growth,” said Glover. “Kennedy Wilson Fund VI plans to capitalize on these strong market fundamentals, acquiring Northtowne Summit off-market, with the ability to implement a renovation program and further improve the property.”

Located at 2777 Northtowne Ln., the property has access to Reno-Tahoe International Airport, Route 80, and retail/restaurants along North McCarran Boulevard. Northtowne Summit features one- and two-bedroom floorplans.

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Inside The Story

Jared Glover

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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