TruAmerica Multifamily is remaining active in the Sunbelt region with the recent $146.7 million asset recapitalizations of two of its existing properties.
The first one is known as Tesoro Ranch Apartments, which is home to 400 units. The Southeast Las Vegas location features in-unit washers and dryers, walk-in closets private patios, and stainless steel appliances, which average 1,000 square feet.
TruAmerica first bought the apartment community for $61.7 million in 2019. While it has gone through renovation, it is set to be expanded with the new equity from the recapitalization.
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