A real estate developer has paid $31 million for a 260-unit apartment community in Reno, Nev.

California-based Sobrato Development Co. bought the Lakeside Village Apartments from LV Apartments LLC in a deal that represents $119,231 per unit.

Located at 1555 Ridgeview Drive, the 283,666-square-foot property is situated on 17.8 acres, adjacent to the Lakeridge Golf Course. Featuring four floor plans, the apartment community consists of one-, two- and three-bedroom homes.

Community amenities include swimming pools, and a spa and fitness center. Unit amenities include a gas fireplace and a private patio or balcony.


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