Berkadia Negotiates $54.7M Sale of Sagecliff Apartment Community in Reno

RENO, NEV. — Berkadia has directed the sale of Sagecliff, a multifamily property located at 2777 Northtowne Lane in Reno. A California-baed real estate investment firm sold the asset to a California-based private family office for $54.7 million. Jared Glover of Berkadia represented the seller. Built in 1997, Sagecliff features 220 one- and two-bedroom residences, with one-bedroom units comprising 49 percent of the property and two-bedroom units comprising 51 percent. The average unit size is 941