CBRE Arranges $9.75 Million Sale of Shenandoah Villas in Carson City, NV
23 Jan 2018
CBRE Capital Markets announced the sale of Shenandoah Villas, a 78-unit multifamily property located at 101 Conestoga Drive in Carson City, Nevada. A successful marketing effort resulted in multiple bids and a new record for larger properties in Carson at $125,000 per unit.
CBRE’s Aiman Noursoultanova brokered the sale. Trevor Breaux and Troy Tegeler of CBRE’s Debt and Structured Finance Group seamlessly arranged the long-term financing on the property. The complex was acquired by a California-based private investor.
“The Carson City market will continue to benefit from tremendous nearby job growth and an influx of new residents to the area,” said Aiman Noursoultanova, Senior Vice President. “This transaction is a true win-win for both the buyer and seller.”
Located in the hills above Carson City just off of Interstate I-580, Shenandoah Villas sits on spacious attractively landscaped grounds and features expansive views of the Sierra Nevada Mountains and Carson Valley. The community offers spacious floor plans, professional management, a community center, a pool, a fitness center, a 24-hour laundry facility, barbecue areas and generous parking.
At approximately 98.7% occupancy, Shenandoah Villas is an attractive asset in a growing market constrained by land availability. The property is less than two miles from some of the area's largest employers such as Carson Tahoe Hospital and near numerous restaurants and retail amenities.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.