Resolute Capital Partners Successfully Repositions Asset and Sells 17.57-Acre Industrial and Mixed-use Property in Reno, Nevada to Two Buyers

SAN FRANCISCO, Nov. 2, 2021 /PRNewswire/ -- Resolute Capital Partners ("Resolute Capital"), the private equity firm that invests in and manages investments in real estate, technology, and energy, announced today the sale of a 17.57-acre industrial and mixed-use property in Reno, Nevada. The sale marks the end of a challenging journey for the asset which began as a construction loan to a developer in 2020 and ended in default. Resolute Real Estate's experience and background played a critical role in gaining ownership and control of the property and later repositioning it to increase its appeal and valuation. 

"I'm extremely proud of our management team at Resolute Real Estate," said Candace Powell, managing partner, executive vice president. "When the original developer was unable to perform, Resolute Capital, as the lender, was able to take back the property. We immediately began the work of managing the foreclosure process. Working together with city of Reno, we were able to subdivide the property in order to create the highest value and best use of the asset and the land. In the end, our team was able to find an adaptive solution that led us to not one but two buyers."

Conveniently located near both the Reno Sportsdome, a state-of-the-art indoor sports facility, and the SouthEast Connector, a 6-lane regional roadway, the property was originally purchased as 17.57 acres but was divided into two parcels for the sale. The first parcel includes a 6,000-square-foot restaurant and 57,308 square feet of industrial and mixed-use space. The second parcel consists of 9.08 acres of land.

This sale exemplifies Resolute Capital's ongoing dedication to creating opportunity in any environment. Resolute Capital was quickly able to regain control of the property due to a deed-in-lieu of foreclosure arrangement, despite the pandemic-related moratorium on foreclosures. The Resolute Real Estate team was able to successfully work through the proceedings to create an asset that appealed to multiple buyers, benefitting all parties involved.  

About Resolute Capital Partners
Resolute Capital Partners ("Resolute Capital") is a private equity firm with offices in San Francisco, Dallas, and Minneapolis. Having placed more than $3 billion in institutional-grade and private securities investments throughout their careers, its seasoned executive team has vast experience managing investments during all market cycles. Resolute Capital contributes professional expertise and multi-level support to companies and projects, helping them realize their vision and creating the potential for flexibility and opportunity.

For more information, please visit www.resolutecapitalpartners.com.

About Resolute Real Estate
Resolute Real Estate is a real estate investment and asset management company that focuses on acquiring and repositioning assets and providing property-level solutions across its multi-sector platform. The firm capitalizes on the experience and extensive knowledge set of its executive team to strategically advance its growth and value- add objectives. Having successfully managed through multiple economic cycles, the executive team has built its reputation on achieving measurable results.

SOURCE Resolute Capital Partners