Newmark : Arranges Sale and Financing of Village at Iron Blossom, a 404-Unit Multifamily Community in Reno, Nevada
NMRK
Published on 05/13/2026 at 07:26 am EDT
May 12, 2026 12:00 PM Newmark announces the Company has arranged the sale and financing of Village at Iron Blossom, a 404-unit Class B multifamily property located in South Reno, Nevada. Details of the sale price and financing terms remain confidential, but the sale stands as the largest multifamily transaction by sales price in Reno since 2022[1], signaling a strong inflection point for pricing and investor confidence in the market. A Newmark investment sales team led by Vice Chairman Jonathan Merhaut represented the seller. The Newmark team continues to lead investment sales activity in the Reno multifamily market, having advised on over 50% of all institutional sales and recapitalizations over the past three years, with total volume exceeding $400 million. "We're thrilled to have facilitated one of the most important multifamily transactions in Reno in recent years," said Merhaut. "Village at Iron Blossom sets a new benchmark for pricing in the market and reinforces the conviction and depth in demand from capital surrounding Reno's growth story." The sale underscores robust capital demand for well-located institutional assets, especially as Reno has ranked among the top-two rent growth markets on the West Coast in 2025, according to Newmark Research. Located at 690 East Patriot Boulevard, Village at Iron Blossom is a 404-unit, garden-style apartment community in the South Reno submarket. Originally built in 1984, the property has remained under the same ownership for the past decade and has benefited from significant capital improvements, including an estimated $12 million reinvested by the owner to maintain its standing as a market-leading Class B community.[1] According to Newmark ResearchAbout Newmark Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. As of March 31, 2026, Newmark and its business partners together operated from over 185 offices with more than 9,600 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.Discussion of Forward-Looking Statements about Newmark Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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Newmark Group Inc. published this content on May 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 13, 2026 at 11:25 UTC.