Reno, NV
General Information
Reno, known as the Biggest Little City in the World, is the largest city in Northern Nevada and is located in southern Washoe County. Reno is situated on the eastern slope of the Sierra Nevada Mountains in an area called the Truckee Meadows. Lake Tahoe and the largest concentration of ski areas and facilities in the world are within 50 miles. Numerous areas suitable for biking, camping, hunting, fishing, and mountain climbing are within a thirty-minute drive. The Airport Authority of Washoe County operates two airports. Reno/Tahoe International Airport is located about two miles from downtown and is serviced by most of the major airlines. Nevada’s Freeport Law exempts state taxation on all personal property in transit through Nevada while it is being stored, assembled, or processed for use in another state. There is no corporate or personal income tax. These factors have contributed to the state’s tremendous growth through the 1990’s into this decade.
The main employers in Fort Collin’s diverse economy are:
In this market, we're looking for:
We acquired our first community in Reno in January of 2007 and our second and third in May of 2007. We are looking for more acquisition opportunities.
Reno, known as the Biggest Little City in the World, is the largest city in Northern Nevada and is located in southern Washoe County. Reno is situated on the eastern slope of the Sierra Nevada Mountains in an area called the Truckee Meadows. Lake Tahoe and the largest concentration of ski areas and facilities in the world are within 50 miles. Numerous areas suitable for biking, camping, hunting, fishing, and mountain climbing are within a thirty-minute drive. The Airport Authority of Washoe County operates two airports. Reno/Tahoe International Airport is located about two miles from downtown and is serviced by most of the major airlines. Nevada’s Freeport Law exempts state taxation on all personal property in transit through Nevada while it is being stored, assembled, or processed for use in another state. There is no corporate or personal income tax. These factors have contributed to the state’s tremendous growth through the 1990’s into this decade.
The main employers in Fort Collin’s diverse economy are:
- Gaming and other recreation: Reno Hilton, Silver Legacy Resort, El Dorado Hotel, Circus Circus Casinos, Sparks Nugget Inc., International Game Technology
- Construction, manufacturing, transportation, communication, public utilities, and finance related service: Washoe County Comptroller
- Government, Public, and Health: Washoe County School District, University of Nevada-Reno, Washoe Medical Center
- Distribution, warehousing, and manufacturing facilities trade and service sectors
In this market, we're looking for:
- Solid distributable income;
- Rising apartment occupancies and rents due to tapering single family home demand and due to a rising population and job base;
- An equity building valuation shift as Utah investment real estate starts to trade more in the range of other Western real estate markets.
We acquired our first community in Reno in January of 2007 and our second and third in May of 2007. We are looking for more acquisition opportunities.
