September 9, 2016 Comments Off on TruAmerica Pays $81M for Las Vegas Portfolio Views: 275 California, National News, Nevada, West

TruAmerica Pays $81M for Las Vegas Portfolio

TruAmerica Multifamily, in partnership with MSD Capital LP, paid $81.8 million to Wolff Co. for a three-property 802-unit multifamily portfolio. Los Angeles-based TruAmerica has invested $200 million in building a Las Vegas portfolio totaling 1,746 units.

The three properties, Oasis Gateway at 6501 Vegas Dr., Oasis Palms at 2500 Rainbow Blvd. and Oasis Vinings at 6100 Carmen Blvd. are within 2.5 miles of one another. The properties were built between 1989-1997. TruAmerica will implement a capital improvement program across all three properties, including new appliances and floors, as well as exterior renovations.

The Wolff Co., based in Scottsdale, acquired Las Vegas’ “Oasis” portfolio in 2013 for $200 million. The portfolio included 14 multifamily properties.

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