
TruAmerica Acquires Apartment Communities in Las Vegas, Atlanta for $97M
Connect Apartments is planned next month in Los Angeles. You can get more information and register to attend on this link.
Los Angeles-based TruAmerica Multifamily acquired a two-property, 608-unit apartment portfolio of assets in the Las Vegas and Atlanta metros in an off-market transaction valued at $96.8 million. The acquisitions include the 368-unit Vintage Pointe in Las Vegas (pictured), and the 240-unit Sweetwater Creek in the Atlanta suburb of Lithia Springs.
With the acquisition of Vintage Pointe, TruAmerica has grown its portfolio in the Silver State to approximately 4,000 units since entering the market in 2016. After making its first investment in Atlanta earlier this year TruAmerica now owns four properties totaling nearly 1,400 units.
The new ownership will invest in a multi-million-dollar capital improvement program across the portfolio to reposition both properties on par with the competitive set in those markets.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition