Las Vegas apartment complex bought by Los Angeles real estate firm
A Los Angeles real estate firm has bought another Las Vegas apartment complex.
TruAmerica Multifamily announced Wednesday that it acquired the 368-unit Vintage Pointe, at 6500 Vegas Drive, and a 240-unit complex in the Atlanta area with a partner for $96.8 million total.
Vintage Pointe sold for $58 million.
TruAmerica said it has now acquired around 4,000 units in Nevada since it entered the market in 2016.
In a sign of Las Vegas’ heated apartment industry, Vintage Pointe has traded hands three times in the past three years at escalating prices.
Before it was purchased by TruAmerica, Vintage Pointe sold for $49.25 million in late 2017 and for just under $40 million in spring 2016, property records indicate.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.