APW Avenue Group, a Los Angeles-headquartered real estate investment and development firm, has acquired The Village at Iron Blossom, a 401-unit apartment community in South Reno, Nevada, for $96 million.
The property offers residences in one-, two- and three-bedroom configurations. Community amenities include a fitness center with yoga studio, resort-style pools with sundeck and spa, racquetball court, tennis and basketball courts, and a fenced dog park.
“Reno’s transformation is being fueled by world-class employers that are creating thousands of high-paying jobs,” said James R. Parks, founder and principal of APW Avenue Group. “The presence of Tesla’s Gigafactory Nevada, Panasonic’s battery manufacturing operations, Google’s expansive data-center campus, and Walmart’s major distribution center has supercharged population growth and housing demand. We are committed to investing in this dynamic corridor and delivering well-located housing that supports the workforce powering Northern Nevada’s economic boom.”
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