Key Investment Thesis
- Opportunity to deliver a best-in-class residential offering in an extremely desirable location – the project is situated directly on the Truckee River near the Riverwalk District and Midtown District, which together form Reno’s most urban, diverse, and vibrant neighborhood which has been experiencing significant growth due its unique lifestyle offering.
- Continued evolution of the Downtown and Midtown neighborhoods as well and the Reno market as a whole, which continues to experience an influx of new residents and employment growth, including Tesla’s recent announcement of an additional $3.6 billion investment into two new factories in Reno as well as Redwood Materials’ announcement for a new $3.5 billion battery recycling facility.
- Historically undersupplied housing market in Reno which has led to significant continued rent growth within the market.
- Grant’s Landing focuses on the shift in demand towards highly amenitized Class A housing within the Downtown submarket which historically has seen very limited institutional quality multifamily product.
JMA Value Creation