Acquisitions Dave News Today

ENCINITAS, CA - San Diego-based Tower 16 Capital Partners has successfully acquired The Deco at Victorian Square, a 209-unit multifamily property located in the rapidly growing Reno, Nevada, market. The project was built in 2021 and acquired for $43 million, well below today’s replacement cost. “This marks our first acquisition in the Reno market and brings us back into Nevada where we previously owned a portfolio of 2,000 units,” said Tower 16 Co-Founder Tyler Pruett....

RENO, Nev. & SAN DIEGO, February 28, 2024--Tower 16 Capital Partners Acquires The Deco at Victorian Square, Its First Multifamily Project in Reno for $43 million, well below replacement cost.