The Highlands was built in two phases and was well constructed with features that were uncommon at the time, including full-size washer/dryers in select homes, private garages, and a full range of modern community amenities. The property’s aesthetic appeal and lack of functional obsolescence makes it an ideal candidate for a value-add interior renovation program. With previous ownership showing a proven value-add opportunity by achieving renovation premiums for a select number of units, TruAmerica plans to capture those premiums on the remaining 267 units that are un-renovated, investing over $5M in order to complete the program. This thoughtful renovation will produce returns that are not easily found in the current economic environment, and it will capture a market which is still in the early stages of recovery.
The Highlands is a low density, garden-style apartment community located in the city of Grand Terrace, CA. Nestled on a plateau above the I-215, the community offers access to employment centers throughout the booming Inland Empire region, including the nearby cities of Riverside and Loma Linda. This property is less than 4 miles away from Loma Linda University Medical Center, which after undergoing its $1.2B expansion program will add approximately 700 jobs, making it the second largest medical center in California and the highest-ranked hospital in the Inland Empire region.