
TruAmerica Multifamily Expands Vegas Portfolio
TruAmerica Multifamily acquired two apartment communities in Las Vegas totaling 504 units from Acacia Capital for $77.2 million. With the acquisition of Crossing at Green Valley and The Retreat, TruAmerica’s local portfolio now totals more than 3,200 units.
TruAmerica’s Zach Rivas says, “By leveraging our significant presence in this market, we can take advantage of economies of scale, to cost-effectively improve the appearance and amenities and achieve operational efficiencies at both properties.”
Acquired in partnership with Cleveland-based Citymark Capital, The Retreat is a 120-unit multifamily community in East Las Vegas that was built in 1996. Crossing at Green Valley, is a 384-unit multifamily community in Henderson that was built in 1986 and was acquired in partnership with an institutional investor.
JLL’s Darcy Miramontes, John Cunningham and Charles Steele represented the seller.
Miramontes says, “These properties represented a great value-add play for the buyer.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition