TruAmerica Multifamily makes largest single multifamily transaction in Nevada

In the largest single multifamily asset transaction in Nevada history, TruAmerica, in joint venture with an institutional capital partner, has acquired Allanza at the Lakes, an 896-unit multifamily community in Las Vegas, for $152 million.

With the acquisition, TruAmerica has started 2019 with almost $900 million in transaction activity, including the acquisition of approximately 3,700 units in Florida, Georgia, Nevada and Colorado.

“We continue to fine tune our portfolio, building scale where we have a significant presence like Las Vegas and expanding our national footprint into new markets such as Atlanta,” said Robert Hart, TruAmerica founder and CEO.

With 896 units, Allanza is the fourth-largest apartment building in Nevada and the largest acquisition by unit-size in the six-year history of the Los Angeles–based real estate investment firm. Since entering the Las Vegas market in 2016, TruAmerica, alongside its institutional partners, has significantl