Marcus & Millichap Inc.
10/30/2025 | Press release | Distributed by Public on 10/30/2025 15:57
Marcus & Millichap Completes Three-Property Multifamily Portfolio Sale in Reno
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Marcus & Millichap Completes Three-Property Multifamily Portfolio Sale in Reno
October 30, 2025
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RENO, Nev., Oct. 30, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of the Kromer Portfolio, a three-property, 1,048 unit multifamily portfolio in Reno and Sparks, Nevada. The properties are Village of the Pines, a 272-unit asset completed in 1974; Sand Pebble-Spanish Oaks, a 448-unit property constructed in 1983; and 328-unit Lakeview, built in 1979.
"The sale is the second-largest multifamily transaction by dollar volume and unit count completed in Northern Nevada," said Ken Blomsterberg, senior managing director investments in Marcus & Millichap's Reno office. Blomsterberg, Ryan Rife, and Daniel Winrod of Marcus & Millichap represented the buyer, Hamilton Zanze. The seller is Kromer Investments. "With this acquisition, Hamilton Zanze grew its footprint in the region from 176 units to 1,224 units," said Rife.
"This acquisition underscores our conviction in Reno-Sparks as a dynamic growth market with strong fundamentals and durable demand," said Ian O'Connor, director of acquisitions at Hamilton Zanze. "Partnering with Marcus & Millichap, we've added a portfolio with meaningful operational upside that aligns well with our long-term investment strategy."
In 2022, Blomsterberg, Rife, and Winrod closed the largest multifamily sale in Northern Nevada, the 1,077-unit ERGS Portfolio, which sold for $302.5 million.
Village of the Pines spans over 10 acres in Reno near State Route 659 and Reno-Tahoe International Airport. It offers one-, two- and three-bedroom units with a swimming pool, basketball court, and covered parking.
Sand Pebble-Spanish Oaks, on 21 acres in Sparks near Sparks Marina Park, features one-, two- and three-bedroom units with fireplaces, dishwashers, and patios or balconies, plus a pool, basketball court, and covered parking.
Lakeview covers nearly 18 acres in Reno near the Grand Sierra Resort, Peppermill, and Idlewild Park, and includes a clubhouse, basketball court, fitness center, and laundry facility.
"The sale is the second-largest multifamily transaction by dollar volume and unit count completed in Northern Nevada," said Ken Blomsterberg, senior managing director investments in Marcus & Millichap's Reno office. Blomsterberg, Ryan Rife, and Daniel Winrod of Marcus & Millichap represented the buyer, Hamilton Zanze. The seller is Kromer Investments. "With this acquisition, Hamilton Zanze grew its footprint in the region from 176 units to 1,224 units," said Rife.
"This acquisition underscores our conviction in Reno-Sparks as a dynamic growth market with strong fundamentals and durable demand," said Ian O'Connor, director of acquisitions at Hamilton Zanze. "Partnering with Marcus & Millichap, we've added a portfolio with meaningful operational upside that aligns well with our long-term investment strategy."
In 2022, Blomsterberg, Rife, and Winrod closed the largest multifamily sale in Northern Nevada, the 1,077-unit ERGS Portfolio, which sold for $302.5 million.
Village of the Pines spans over 10 acres in Reno near State Route 659 and Reno-Tahoe International Airport. It offers one-, two- and three-bedroom units with a swimming pool, basketball court, and covered parking.
Sand Pebble-Spanish Oaks, on 21 acres in Sparks near Sparks Marina Park, features one-, two- and three-bedroom units with fireplaces, dishwashers, and patios or balconies, plus a pool, basketball court, and covered parking.
Lakeview covers nearly 18 acres in Reno near the Grand Sierra Resort, Peppermill, and Idlewild Park, and includes a clubhouse, basketball court, fitness center, and laundry facility.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit https://www.MarcusMillichap.com.
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