CBRE Capital Markets’ debt and structured finance recently secured $55.9 million in financing for the acquisition and renovation of Redfield Ridge, a 300-unit garden-style multifamily property in Reno, NV. Scott Peterson, Mark McGovern, Brian Cruz and Morgon Fraser of CBRE’s San Diego office arranged the loan on behalf of the buyer, Fenway Capital Advisors.
Built in 1986 to condo specifications, Redfield Ridge features 21 two-story apartment buildings with one- and two-bedroom units averaging 817 square feet. The property is located near McCarran Boulevard at 4959 Talbot Lane in the Meadowood Trade Area, offering access to the Reno/Sparks metropolitan area.
Amenities include a clubhouse, fitness center, business center, tennis courts, swimming pools and spas, laundry facilities and covered parking. The seller recently completed a light renovation on 90 units including updated appliances, countertops and sinks.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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