McCourt Partners and TRU Development Announce Partnership to Develop Class A Multifamily Project in Henderson, Nevada

LAS VEGAS, Nov. 15, 2022 /PRNewswire/ -- McCourt Partners, one of the most visionary and community-driven family-owned real estate development companies in the U.S., announced today a partnership with experienced Las Vegas-based TRU Development Company, a market leader with deep roots in the region, to develop a 244-unit, Class A apartment building in Henderson, Nevada. The project is set on nearly 6 acres at the gateway of Inspirada, a vibrant and flourishing master-planned community.

"We're delighted to expand our footprint to an exciting high growth market where we see great potential," said Jordan Lang, President of McCourt Partners. "We are pleased to partner with TRU Development who not only have a proven track record and intimate market knowledge but share our passion for building projects that have a meaningful impact on the communities they serve."

"TRU Development is excited about the opportunity to partner with McCourt Partners in acquiring a dynamic site in Inspirada. The growing submarket in West Henderson provides a perfect setting for a new multifamily residential delivery," said Tim Deters, President and CEO of TRU Development.

This project is the latest in a robust pipeline of developments for New York and Los Angeles-based McCourt Partners, who announced earlier this year the acquisition of a core piece of the Dallas Design District, a unique real estate portfolio spanning more than 40 acres and nearly 800,000 square feet of leased showroom, retail, and flex office space.

McCourt's Chairman and CEO, Frank H. McCourt Jr., is a fifth-generation builder and business leader with family roots in real estate and construction dating back to 1893. Over the last 45 years, McCourt has been involved in large-scale real estate projects in New York City, London, Miami, Austin and Los Angeles, and played a critical role in the development of Boston's Seaport.

McCourt Partners, a business unit of McCourt Global, Inc., is a private investment platform with more than $1 billion of permanent capital. It focuses on real estate development and has made significant investments in flagship projects in New York City, Los Angeles, Austin, London and Miami. McCourt Partners endeavors to build stronger communities through inclusive space, green technology and resilient design.

TRU Development, a Las Vegas based company has over 100 years of combined experience in construction and development. With a collective experience of over 10,000 units of multifamily development and construction (low, mid and high-rise) and extensive expertise in real estate development, entitlement, due diligence, budgeting, capital raising, construction management, civil engineering, and market analytics. TRU works hand-in-hand with selected general contractors and subcontractors, from pre-development through construction. TRU has a long history with the multifamily product type and is committed to staying extremely active in the Las Vegas market.

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SOURCE McCourt Partners