(Reno, Nev.) – Wolf Run Village and Wolf Run East has been sold for $35.5 million marking one of the largest multifamily transactions in 2018, and the largest student housing deal this year in northern Nevada.
Located just east of the University of Nevada, Reno Campus, the Wolf Run Village and Wolf Run East portfolio has a total of 142 student-only units with 395 beds and 5.3 acres of additional land development.
Trevor Richardson, multifamily specialist from Dickson Commercial Group (DCG), represented the seller, Wolf Run LLC, based out of Anchorage, Alaska, and who was the original developer and builder.
Wolf Run East, completed in 2017, consists of seven three-story buildings with 15 apartments per building on 4.15 acres. These buildings feature modern construction, in-unit laundry and furnished common areas. Wolf Run Village, constructed in 1996, features 37 five-bedroom, five-bath townhomes on 4.36 acres.
The property was purchased by a student housing group located in Southern California for $35.5 million.
The University of Nevada, Reno has continued to grow annually, and has gone from 15,000 undergrad students in 2004 to nearly 22,000 undergraduate students in 2017. The university provides 145 undergraduate and 124 graduate programs. This growth in the student population has created a robust demand for student housing in the area.
About Dickson Commercial Group:
Dickson Commercial Group (DCG) is a locally owned and operated, full-service commercial real estate firm headquartered in Downtown Reno and serving all of northern Nevada. Dickson Commercial Group serves all sectors of commercial real estate, including sales and leasing for industrial, office, retail, multifamily, and land. Dickson Commercial Group also offers a full spectrum of commercial services from property management and construction management to investment underwriting and feasibility studies.