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Seagate Properties Sells Reno Apartments For $66M

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The property’s price has almost doubled since it last traded in 2017.: Seagate Properties has sold the 220-unit Northtowne Summit in Reno, Nev., for $66 million. The buyer was Kennedy-Wilson Fund VI, a commingled fund managed by Kennedy Wilson. Berkadia worked on behalf of both parties to close the deal. Built in 1997, the community last changed hands in 2017, when Seagate Properties bought it for $34.2 million, according to Yardi Matrix. The property comprises one- and two-bedroom floorplans ranging from 787 to 1,107 square feet. Each unit has a balcony or patio, washers and dryers and air conditioning.

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