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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.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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