Tramview Acquires Reno, NV Small Bay Industrial Property

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Reno Small Bay Industrial

BEACHWOOD, OHIO (March 6, 2026) – A joint venture between Tramview Capital Management (“Tramview”) and Bayspring Real Estate Partners recently completed the off-market acquisition of a 78,077 SF small bay industrial property (“Property”) in Reno, NV. The Reno MSA continues to experience robust population growth and a diversifying local economy with strong manufacturing, logistics, technology, healthcare, gaming, and other sectors supported by major employers (e.g., Tesla, Intuit, Panasonic), presenting an attractive and cost-effective value proposition relative to California markets.

The infill Property is strategically located in the Airport submarket adjacent to I-580 and in proximity to the U.S. Hwy 395 / I-80 interchange, providing efficient access to Reno-Tahoe International Airport, Union Pacific’s Reno Intermodal Terminal, and the greater Northern Nevada logistics network, as well as
regional access to Northern California markets and national logistics via air cargo. The Reno small bay industrial market’s sustained rent growth and tight vacancy rates reflect continued favorable supply and demand dynamics with limited comparable available inventory to lease, further constrained by a scarcity of developable land and elevated construction costs for small bay product. Tax advantages, including no state income tax, and a business-friendly environment with growing consumer and labor pools bolster tenant demand and retention.

The functional two-building property is ~100% leased to a diverse mix of tenants with minimal concentration risk, as no tenant comprises more than ~12% of the rentable area. The Property has exhibited strong historical occupancy with no vacancies exceeding one month in the past five years. The Property’s functional design appeals to a wide array of industrial, commercial, manufacturing, and service users with desirable suite sizes, 16’ clear heights, and 32+ dock doors. The Property’s layout also promotes operational efficiency with flexible bay sizes and ample parking and drive-in access.

Charles Myerson, Partner of Tramview, stated “We are excited to partner with Bayspring Real Estate Partners to acquire this well located, highly functional property in a market supported by robust and growing demand drivers. This acquisition aligns with our strategy of targeting small-bay industrial assets with strong yields in supply-constrained markets at attractive pricing. The property’s sustained high occupancy and compelling entry yield should deliver healthy cash flow, while planned capital improvements position us to capture rent growth amid favorable supply-demand fundamentals to generate attractive returns for our investors.”

Tramview has made eight industrial investments totaling ~1.3 million SF located in vital distribution and logistics hubs with compelling long-term fundamentals in Florida, Georgia, New Jersey, Nevada, and Pennsylvania.

ABOUT TRAMVIEW CAPITAL MANAGEMENT:
Tramview Capital Management is a value-oriented real estate investment management firm focused on investing in institutional quality real estate in targeted growth markets across the U.S. Tramview leadership has overseen and managed approximately $5 billion of equity invested globally across all property types and throughout the capital stack on behalf of institutional clients (e.g. pension funds, sovereign wealth funds, endowments, foundations), wealth management firms, and high net worth individuals. For more information, please visit tramview.com.

ABOUT BAYSPRING REAL ESTATE PARTNERS:
Bayspring Real Estate Partners is a privately held real estate investment and asset management firm specializing in value-add and development strategies across commercial and residential properties. With expertise in entitlements, leasing, and strategic repositioning, Bayspring works closely with institutional investors, lenders, and property owners to unlock value in complex real estate situations. The firm focuses on West Coast markets, leveraging deep local knowledge and operational experience to drive performance and deliver results. For more information, please visit BayspringRE.com.

 

 

Karim Jiwani

Controller / Director of Operations

Karim Jiwani joined Tramview Capital Management in 2023 and is the Controller and Director of Operations, with responsibilities including financial and risk management, reporting, operations, and tax. Previously, he was at Carta, where he was an Assistant Fund Controller, with a focus on financial reporting and compliance, with managerial and client responsibilities for over 60 funds. Prior to joining Carta, Mr. Jiwani worked at Rock Ventures, where he was the Fund Controller with responsibility for the financial accuracy and reporting of over 40 funds. Mr. Jiwani started his career at KPMG, where he was a Senior Audit Associate, specializing in auditing private equity and venture funds ranging from approximately $50 million to $1+ billion in AUM. Mr. Jiwani received a Master of Accounting degree from the University of North Carolina (Kenan-Flagler Business School) and a Bachelor of Architecture degree from Southern Polytechnic State University. Mr. Jiwani is also a Certified Public Accountant.

Charles Myerson

Partner

Charles Myerson is a Partner at Tramview Capital Management, where he is responsible for sourcing, evaluating, structuring, and managing investments. Previously, he was a Senior Director at Tishman Speyer, where he focused on acquisitions for the greater NYC market and led the firm’s expansion into Pittsburgh. He also held responsibilities for asset management, development, and debt and equity capital markets. Prior to joining Tishman Speyer, Mr. Myerson worked for Silverpeak Real Estate Partners in Atlanta and London, focusing on the asset management, restructuring, and disposition of residential, hospitality, and office investments, in addition to portfolio level responsibilities. Mr. Myerson received an MBA from Columbia Business School, a BBA in Real Estate from the University of Georgia, from which he graduated Summa Cum Laude, and he is a CFA Charterholder.

Nicole Smeader

Sr. Vice President, Investor Relations

Nicole Smeader is a Senior Vice President at Tramview Capital Management with responsibility for developing and maintaining investor relationships. Previously, she was an Associate Partner at The Townsend Group, where she held multiple roles focusing on the firm's marketing and business development efforts, overseeing broker-dealer compliance, and relationship management for the firm's commingled fund clients. Prior to joining Townsend, Ms. Smeader was an Associate in the Investment Property Group at CBRE. Ms. Smeader received a JD from Case Western Reserve University School of Law, an MBA from The Weatherhead School of Management at Case Western Reserve University, and a BS from John Carroll University.

Josh Comiter

Vice President

Josh Comiter is a Vice President at Tramview Capital Management, which he joined in 2021. Josh focuses primarily on the evaluation, underwriting, and due diligence of new acquisitions, as well as the asset management of existing investments. Previously, he was a Senior Analyst at Starwood Property Trust (“Starwood”), where he focused on CMBS B-Piece Acquisitions as a member of the investment management team. Josh simultaneously worked out distressed debt within Starwood’s Special Servicer, LNR. Mr. Comiter was also a Rotational Analyst at Starwood Property Trust. Mr. Comiter received both an MSRE in Commercial Real Estate and a BABA in Urban Planning and Real Estate from the University of Florida.

Beau VandeWalle

Senior Vice President

Beau VandeWalle joined Tramview Capital Management in 2021, where he serves as a Senior Vice President, focusing primarily on the evaluation, underwriting, and due diligence of new acquisitions, as well as the asset management of existing investments. Previously, he was a member of the investment team at WHI Real Estate Partners, where he focused on opportunistic investments, spearheading asset management and investment management activities. Prior to joining WHI Real Estate Partners, Mr. VandeWalle was a Rotational Analyst at Starwood Property Trust. Mr. VandeWalle received a BBA in Finance and Real Estate from the University of Wisconsin-Madison.

Robert Davies

Managing Partner, Founder

Rob Davies is the Managing Partner of Tramview Capital Management, overseeing the firm’s investment activities, portfolio management, and overall strategy and operations. Previously, he was a Partner at The Townsend Group, where he was Head of the Special Situations Group, with responsibility for Townsend’s global direct real estate investment activities. In addition, Mr. Davies was a Portfolio Manager for several discretionary investment funds, totaling approximately $1.8 billion in equity commitments. Prior to joining The Townsend Group in 2011, Mr. Davies was a Vice President at ING Clarion Partners, where he focused on real estate investments in the Western U.S. Prior to, he worked for Discovery Land Company, where he focused on acquisition, project management, and finance activities. He also spent three years as an investment banker for ING Barings Furman Selz. He was a Director of SonomaWest Holdings from 2006 until the company was taken private in 2011. Mr. Davies received an AB degree in Economics from Duke University and an MBA from the Stanford Graduate School of Business.