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TruAmerica Nabs Huntington Beach MF for $90M
TruAmerica Multifamily acquired Pacific Shores, a 264-unit apartment community in Huntington Beach, CA from affiliates of UDR, Inc. for $90.5 million. The asset represents a true value add investment for TruAmerica, which targets well-located Class B multifamily assets that can benefit from strategic renovation while still keeping rents affordable.
Located at 7701 Warner Ave., Pacific Shores features a mix of one and two-bedroom floor plans. The buyer plans to immediately begin a multimillion-dollar capital improvement program building on the moderate renovation of unit interiors started by the seller. TruAmerica also will undertake a complete overhaul of 74 units that have been virtually untouched since the property was constructed in 1970.
Eastdil Secured’s team that marketed the property on behalf of the seller was led by Mark Petersen.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




