Company News
Kingsbarn Capital & Development Breaks Ground on Multifamily Project in Carson City, The Marlette
Carson City, Nevada – March 24, 2022 – As demand for homes continues to grow and residents seek new living options, Kingsbarn Capital & Development announced today it has officially broken ground on a 140-unit, garden-style, multifamily development called The Marlette.
Located at Little Lane and Janas Way in Carson City, the apartment complex is being developed on a 6.1-acre site. The community will feature 10 two-story buildings, each with 14 units, a 3,000 square-foot clubhouse, leasing office, fitness center, dog park, a playground, and a swimming pool area complete with cabanas, firepit seating, and an outdoor kitchen for resident use.
“We’re really excited to bring a new multifamily offering to the Carson City market. The Marlette development will fulfill a much-needed demand for multifamily rentals in this rapidly growing area,” said Kingsbarn Capital and Development President Phil Mader. “The community is only a short distance from the Nevada State Capitol and has great access to nearby shopping, walking paths and restaurants.”
The community will be comprised of 80 one-bedroom, one-bathroom units, and 60 two-bedroom, two-bathroom units. The living spaces will include timeless interior finishes, energy-efficient appliances, kitchen islands, walk-in closets, 8-foot patio sliders, and Wi-Fi.
The construction firm for the project is Neeser Construction, and the architect is Terry Novak of Novak Architecture. The first units are expected to be completed in early 2023.
Media Contact:
Holly Silvestri / Emma Williams
The Ferraro Group -702-367-7771
holly@theferrarogroup.com
emma@theferrarogroup.com
No Offer
This is not an offer. An offer will only be made pursuant to the delivery of the required offering documents, including the private placement memorandum, as supplemented or amended (the “Memorandum”) and only in states in which the securities offered pursuant to the Memorandum are registered or exempt from registration requirements, and only by broker-dealers authorized to do so. This information discusses general information about the portfolio and is not a guarantee, prediction or projection of future performance. Diversification does not protect against loss or guarantee return. There are risks associated with investing in real estate assets, such as inflation, interest rates, real estate tax rates, changes in the general economic climate, local conditions such as population trends and neighborhood values, and supply and demand for similar property types. Investing in DSTs and 1031 exchanges involves significant tax consequences. Please refer to the Memorandum for detailed information about the offering and its associated risks and implications.
Forward-Looking Statements
This press release may contain forward-looking statements identified by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release. Kingsbarn assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.