DCG Multifamily Market Report | Reno/Sparks | June / Q2 2016

Address Sale Price # Units $/Door Sale Date Notes Area Year Built

1 4050 Baker Ln, Reno, NV 89509 $14,748,000 184 $80,152 6/14/2016 SW Reno 1972

2 450 St Lawrence Ave, Reno, NV 89509 $462,600 4 $115,650 6/7/2016 Old SW Reno 1959

3 3650 Wedekind Rd, Sparks, NV 89431 $445,000 7 $63,571 6/30/2016 3.24 AC Property Sparks 1940

4 3345 Scottsdale Rd, Reno, NV 89512 $350,000 4 $87,500 6/30/2016 East Reno 1984

5 397 Grand Canyon Blvd, Reno, NV 89502 $335,000 5 $67,000 6/1/2016 Midtown 1960

6 1514 C ST $285,000 4 $71,250 6/28/2016 Sparks 1955

7 2770 WRONDEL WAY $198,000 3 $66,000 6/10/2016 East Reno 1955

1June 2016 DCG Multifamily Market Report

JUNE 2016 MULTIFAMILY SALES

* Source: Washoe County Assessor

JUNE 2016 MULTIFAMILY SALES MAP



JUNE 2016 APARTMENT RENTAL RATES


MONTHLY RENTAL RATE REPORTThe following rental data consists of weighted averages for market rents of 25,653 Reno/Sparks apartments, 5+ unit complexes only.

*Data provided by Costar


Q2 2016 MULTIFAMILY SALES


Address Sale Price # Units $/Door Sale Date

826 G ST, Sparks, NV, 89431 $3,810,000 51 $74,706 4/29/2016

325 Grand Canyon Blvd, Reno, NV 89502 $400,000 14 $28,571 4/13/2016

1275 Berrum Ln, Reno, NV 89509 $385,000 7 $55,000 4/15/2016

782 Stewart St, Reno, NV 89502 $268,000 4 $67,000 4/29/2016

1025 Prater Way, Sparks, NV 89431 $162,500 2 $81,250 4/12/2016

2408 18th St, Sparks, NV 89431 $260,000 2 $130,000 4/14/2016

2000 Plumas St, Reno, NV 89509 $215,000 2 $107,500 4/26/2016

1660 York Way, Sparks, NV 89431 $270,000 2 $135,000 4/29/2016

831 F St, Sparks, NV 89431 $274,500 2 $137,250 4/29/2016

275 C St, Sparks, NV 89431 $620,000 12 $51,667 5/31/2016

1001 N Sierra St, Reno, NV 89503 $575,000 6 $95,833 5/4/2016

1325 Prater Way, Sparks, NV 89431 $270,000 4 $67,500 5/31/2016

Address Sale Price # Units $/Door Sale Date

1909 C St, Sparks, NV 89431 $200,000 4 $50,000 5/20/2016

10005 Sagewood Dr, Reno, NV 89506 $200,000 3 $66,667 5/31/2016

992 Vassar St, Reno, NV 89502 $270,000 2 $135,000 5/25/2016

812 H St, Sparks, NV 89431 $248,000 2 $124,000 5/16/2016

1026 W 2nd St, Reno, NV 89503 $170,000 2 $85,000 5/20/2016

4050 Baker Ln, Reno, NV 89509 $14,748,000 184 $80,152 6/14/2016

450 St Lawrence Ave, Reno, NV 89509 $462,600 4 $115,650 6/7/2016

3650 Wedekind Rd, Sparks, NV 89431 $445,000 7 $63,571 6/30/2016

3345 Scottsdale Rd, Reno, NV 89512 $350,000 4 $87,500 6/30/2016

397 Grand Canyon Blvd, Reno, NV 89502 $335,000 5 $67,000 6/1/2016

1514 C ST $285,000 4 $71,250 6/28/2016

2770 WRONDEL WAY $198,000 3 $66,000 6/10/2016

Q2 2016 APARTMENT RENTAL RATES


QUARTERLY APARTMENT REPORTThe following rental data consists of weighted averages for market rents of 20,658 Reno/Sparks apartments, 80+ unit complexes only. *Data provided by Johnson Perkins Griffin Apartment Survey

* Source: Johnson Perkins Griffin Apartment Survey

Q2 2016 MULTIFAMILY UNDER CONST.



FOUNTAIN HOUSE SPARKS - UNDER CONSTRUCTION 3RD STREET FLATS - UNDER CONSTRUCTION

Project Name Units Location Area StatusA. 3rd Street Flats 94 West 3rd Street at North Arlington Avenue Downtown Under Construction

B. C Street Lofts 100 Victorian Avenue at 10th Street Sparks Under Construction

C. Fountain House Apartments 220 Victorian Plaza Circle at C Street Sparks Under Construction

D. Vineyard at the Galleria 210 Sparks Galleria Sparks Under Construction

E. Edgewater at Virginia Lake 336 Virginia Lake-Demolition of Portion of Existing Project SW Reno Under Construction

F. The Harvest-Phase I 278 Damonte Ranch South Reno Under Construction

J. Sharlands Apartments 312 Southeast Corner Sharlands & Mae Anne 1 NW Reno Beginning Construction 2016

G. The Village at Arrow Creek Parkway-II 252 Intersection of Arrowcreek Parkway & Wedge Parkway South Reno Under Construction

Total Under Const.: 1,802

Q2 2016 MULTIFAMILY PLANNED CONST.



Project Name Units Location Area StatusH. The Villas at Keystone Canyon Phase II 96 Keystone Avenue & North McCarran Boulevard NW Reno Planning Stages

I. Confidential 305 Directly West of The Villas at Keystone Canyon NW Reno Planning Stages

K. Silver Peak Apartments 420 Intersection of Military Road & Lemmon Drive North Valleys Special Use Permit will expire March 2019

L. Vista Rafael Apartments 416 North Virginia Street & Vista Rafael Parkway North Valleys Planning Stages

M. Confidential 280 Sparks Market Sparks Planning Stages

N. LandCap Project 300 Prater Way & Vista Boulevard Sparks Planning Stages

O. Lumina-Phase I 312 Wingfield Springs North Sparks Planning Stages

P. Lumina-Phase II 240 Wingfield Springs North Sparks Planning Stages

Q. The Point at the Marina 920 LandCap Project, East of Sparks Marina Sparks Entitled for up to 920 Units

R. Waterfront at the Marina 209 Around Existing Parking Garage @ Sparks Marina Sparks Beginning Construction 2016

S. Confidential 400 South Reno Market South Reno Planning Stages

T. Sierra Vista 340 Arrowcreek Parkway South Reno Beginning Construction 2016

U. Steamboat Creek 468 Geiger Grade & South Virginia Street South Reno Planning Stages

V. Summit Club 584 Mt. Rose Highway South Reno Planning Stages

W. The Harvest-Phase II 300 Damonte Ranch South Reno Planning Stages

X. Park Lane-Reno Urban Development 1200 Park Lane Midtown Reno Planning Stages

Y. The Bridges 192 Victorian Square Sparks Beginning Construction 2016

Total Planned: 6,982

Planned & Under Const. Total: 8,784

Q2 2016 MULTIFAMILY CONST. MAP


The following rental data consists of weighted averages for market rents of 23,753 Reno/Sparks apartments, 5+ unit complexes only.

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Q2 2016 MULTIFAMILY CONST. SUMMARY



DICKSON COMMERCIAL GROUP

10

The team at Dickson Commercial Group has been working in the Northern Nevada market for nearly 35 years. Our seasoned group of real estate professionals offers deep and diverse market knowledge, proven problem solving abilities and resourcefulness with a complete focus on commercial real estate.

We work as a team in the truest sense of the word. We collaborate to find the best solutions and we leverage the specific knowledge of each agent. Our multi-faceted brokerage provides local, national and international clients the full array of commercial real estate services. Agents are trained specialists with accreditation through the Society of Industrial and Office Realtors (SIOR) and Certified Commercial Investment Members (CCIM).

June 2016 DCG Multifamily Market Report

DCG MULTIFAMILY

➔ Seller Representation➔ Buyer Representation➔ Large Multifamily (100+Units)➔ Midrange Multifamily (11-99 Units)➔ Small Multifamily (2-10 Units)➔ Rental & Financial Analysis➔ Monthly/Quarterly Reporting➔ Supply and Demand Analysis➔ Demographic Studies and Reports➔ Off Market Acquisitions

Trevor Richardson

Prior to joining DCG, Trevor was an acquisitions assistant vice president with American Homes 4 Rent (REIT), a national leader in single family home rentals. During his two years with the REIT, he operated on the front lines of growth and development while frequently traveling to more than 20 markets across the U.S. Trevor gained significant acquisitions experience as the company grew from 5,000 single family homes to more than 35,000 nationwide, almost entirely through single unit transactions.

Born and raised in Reno, Nev., Trevor launched his real estate career as operations manager for multiple private equity funds that focused on acquiring and renovating distressed residential assets in northern Nevada and northern California. Trevor graduated in 2010 with a B.A. in journalism with an emphasis in public relations from the University of Nevada, Reno.

Multifamily Services

EMAIL [email protected] 775.850.3031CELL 775.233.0754

Multifamily & Investment Property Specialist

June 2016 DCG Multifamily Market Report 11

Real Estate

DCG Multifamily Market Report | Reno/Sparks | June / Q2 2016