Villas at Dolphin Bay Whole Loan Sale in Carson City, NV Brokered by Marcus & Millichap

Villas at Dolphin Bay Apartments, 730 Silver Oak Drive, Carson City, NV

CARSON CITY, NV – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of the whole loan secured by the three-story, 146,364-square-foot Villas at Dolphin Bay apartment complex in Carson City, Nev. The terms of the sale were not released.

Kenneth N. Blomsterberg

            Kenneth N. Blomsterberg, first vice president investments, along with Ryan Rife and Benjamin Nelson, all in Marcus & Millichap’s Reno office, brought about the whole loan sale.

“The seller, a New York City-based investment fund, engaged Marcus & Millichap to reach a broad national base of clients, both middle-market and institutional, who would be interested in an attractive yield for the appropriate risk profile of the whole loan,” says Blomsterberg.

“Approximately one dozen bidders were involved in the best and final round of offers. The top bidder produced an exceptional outcome that met the fund’s investment goals.”

            

Villas at Dolphin Bay, the asset secured by the whole loan, was built in 2006 on 5.3 acres at 730 Silver Oak Drive in Carson City, 1.5 miles from the Carson Tahoe Health Medical Center, near the new Interstate 580 on- and off-ramps and 30 minutes from Reno and Lake Tahoe.

The property is composed of two studio units, 48 one-bedroom/one-bath apartments, 48 two-bedroom/two-bath units, 24 two-bedroom/two-bath apartments and 12 three-bedroom/two-bath units.

Apartments feature nine-foot living room ceilings; large kitchens with full-size walk-in pantries, countertop bars, designer appliances; washers and dryers, and large patios and balconies. Community amenities include gated access, walking paths, mature trees, specialized outdoor lighting, an indoor pool, a year-round spa, a fitness center, detached garages, and a clubhouse.

For a complete copy of the company’s news release, please contact:

Gina Relva

Public Relations Manager

(925) 953-1716