GPWM Funds acquired this Reno, Nevada property in September of 2020. Previously operated as the Harrah’s Hotel & Casino, the 1,500,000 sf asset was purchased from Caesars as they were required to divest prior to the merger with El Dorado. Through aggressive negotiations, we acquired the property for under $31/sf. The multi-use redevelopment project will convert the existing 930 hotel rooms into 529 Multi-family units; 130,200 sf of office; 94,415 sf of retail and restaurants; and 59,800 sf of climate-controlled storage. In 2020, Reno was ranked the #1 best small city in the U.S. by BestCities.org—the world’s most comprehensive city ranking. (Previously ranked #6 in 2019) Stimulated by the influx of big-name tech—including Tesla, Apple and Google—the “little city” pushed its way to the top. The current transformation continues to draw young talent from both the arts and technology industries to the area. Reno City Center is situated in the heart of downtown Reno, a block from the Truckee River and within one mile of The University Nevada, Reno.
219 N Center St, Reno, NV 89501
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