12/10/2007

CB Richard Ellis oversees $10M sale of Reno multi-family

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Home Suites Apartments

Oakland, Calif.-based A.F. Evans Co. has sold the Home Suites Apartments in the Reno suburb of Sparks, Nev., for $10 million to Lincoln Meadows II, LLC.

Leonard Ramos and Alex Mellinger of CB Richard Ellis represented A.F. Evans while Christy Morrison of The Morrison Real Estate Group represented the buyer.

The 249-unit apartment complex contains 82,432 square feet and is located at 615 E. Lincoln Way. It was built in 1977 on five acres and renovations to the property were completed in 1990.

Sparks is located roughly four miles northeast of Reno and has a population of 66,346.

Ramos is a first VP with CBRE and has been with the company since 2001. He was formerly the vice president of operations for Great Western Hotels Corporation. He won the 2005 and 2006 Summit Award for Apartment Broker of the Year.

Mellinger joined CBRE's Reno office in 2001 as an information management coordinator and is now a senior associate in the Multi-Housing Group with Ramos.

Address: 615 E. Lincoln Way, Sparks, Nev.

Size: 249 units/82,432 square feet

Built: 1977

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Filed Under: Multi-Family

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