Los Angeles-based real estate investment firm Standard Management Company (SMC) has been quietly making waves in the Reno-Sparks property market for years now, but their under-the-radar tactics are coming to an end with an increased pace of acquisition, and an additional property just closed in Sparks.
Verona Apartments comprises 150 units and is SMC’s third property in the Sparks market. SMC will improve the property by upgrading the interiors with new counters, flooring, and stainless appliances, while also enhancing the pool area and adding barbecues, a fire pit, and entertainment spaces.
“Sparks is a strategic spot to serve to the new wave of employees at the Tahoe Reno Industrial Center (TRIC),” says Steven Cohen, president of Standard Management.
This is the fourth property for the group in the area since 2013, bringing the total units available with SMC in Reno/Sparks up to 900, including: Boulders, Spring Villas, and Eastland Hills.
Headquartered in southern California, SMC has 3,000 multi-family units, numerous shopping centers and industrial buildings in California, Nevada, Colorado, Oklahoma, and Michigan, and is actively seeking continued growth, especially in Reno and Sparks. SMC is the area’s latest addition to the big-time businesses drawn to the Biggest Little City.
“We have been fortunate to benefit from Tesla, Google, and Apple and other companies’ expansion and growth of employees in northern Nevada,” said Cohen. “We believe in the opportunity and what the Reno area stands for and has to offer. We are thrilled with Governor Sandoval’s economic development plan, and we are proud to be a part of that growth.”
A key to SMC’s success has been its commitment to a long-term approach to markets, and delivering reliable, long-term returns to investors through hands-on, active management. Using this time-tested recipe since 1961, SMC is seeking to expand in the northern Nevada market, targeting those looking to sell their real estate or secure a real estate loan.
SMC is currently interested in investing in multi-family properties with 150 or more units, value-added industrial buildings, and shopping centers, and making loans to other real estate investors and developers seeking bridge loans.
About Standard Management:
As a group of real estate professionals who have in excess of 300 years of combined real estate industry experience, Standard Management Company (“Standard”) has the knowledge and experience to make good judgments and to provide expert advice with regard to real estate investments. Our track record of making strong investment decisions for almost five decades has created wealth for our investors and continues to benefit our clients today.
For more information visit: standardmanagement.com.