Berkadia Negotiates $41M Multifamily Property Sale in Reno, Nevada
Reno, Nevada – January 7, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale of The Element, a 206-unit, garden-style multifamily property in a top-performing Reno, Nevada submarket. Managing Director Jared Glover of Berkadia Nevada led the transaction on behalf of the seller, a private Los Angeles owner.
The Element sold for $41 million to a private buyer.
“Multifamily fundamentals throughout Reno continue to outperform the broader West Coast leading to heightened investor demand for new acquisitions in the market,” said Glover. “The Element presented the buyer an opportunity to acquire a well performing asset in South Reno, currently the top performing submarket in the city.”
Walkable to the only Whole Foods Market in the area, Target, and an array of restaurant and retail offerings, The Element is also located adjacent to the Meadowood Mall – home to Macy’s, Dick’s Sporting Goods, Round1 Bowling, JCPenney, Coach, Foot Locker, H&M, and more. Conveniently situated at the intersection of I-580 and HWY 659, and within walking distance of the RTC 1, 12, and 56 bus lines, The Element’s residents are well connected to leading employment hubs in the Reno MSA and are within a 10-minute drive to the Reno-Tahoe International Airport. The property was built in 1975/1977 and features 206-units.
Berkadia Negotiates $41M Sale of Multifamily Community in Reno, Nevada | Real Estate Business Online
Berkadia Negotiates $41M Sale for Multifamily Property in Reno, Nevada | CityBiz