The acquisition of 23Twelve brings TruAmerica Multifamily’s Nevada portfolio total to more than 3,100 units with assets in Las Vegas and Henderson. The property is located next to Villas at Green Valley, an existing TruAmerica asset in the highly desirable paradise Valley/Henderson submarket of Last Vegas. The property represents TruAmerica’s third investment in Henderson and eighth investment in 2018. TruAmerica will undertake a capital improvement program that will consist of renovating unit interiors, bringing the units to a high-quality spec, and will upgrade the common area amenities that include two pools, the fitness center, and the clubhouse. The exterior renovation program will also include new paint, lighting, landscaping, and upgraded signage to improve the overall curb appeal of the property. These amenity upgrades will help The Crossing at Green Valley compete more aggressively with its competitors.
23Twelve consists of 384 units and was built in 1986. The Property features an attractive unit mix comprised 50% of one-bedroom units and 50% of two-bedroom units with an average unit size of 868 square feet. The floor plans are spacious and well-designed and include sought after amenities such as washers/dryers, central heat/air conditioning, walk-in closets, private balconies/patios, while select units enjoy fireplaces and vaulted ceilings. The Property also features 2 swimming pools, 2 spas, a fitness center, barbecue areas, a bark park, and a playground.
The Property is conveniently located on the corner of two heavily trafficked thoroughfares: Warm Springs Road and Green Valley Parkway. Just 2.4 miles east of the I-215, The Crossing at Green Valley provides easy access to job centers across the Las Vegas Valley. The shopping center across the street is currently home to Starbucks and UFC gym, and will eventually be home to a major grocery chain as well. McCaran International Airport and the Las Vegas South Premium Outlets are just 5 miles down the road.
Three major employment centers, Las Vegas Strip, McCarran International Airport, and the University of Nevada Las Vegas, are easily accessible from The Property. Additionally, there are many businesses and suburban office centers located on Warm Springs Road and in the Green Valley submarket.