Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
TruAmerica Multifamily Doubles Its TX Portfolio with Two Acquisitions
TruAmerica Multifamily doubled its portfolio in Texas with the acquisition of The Heights and Mission Ranch apartments. The two Dallas-area properties acquired in separate transactions total more than 500 apartment homes and represent TruAmerica’s third and fourth investments in Texas since entering the market in December 2020.
Mission Ranch Apartments is a 295-unit class-B property of one-, two- and three-bedroom units. The Heights is a 35-acre property of 162 single-family townhomes and 84 apartments. With these properties, TruAmerica has now acquired 1,300 units in Texas in the last eight months.
Mission Ranch Apartments is located at 901 U.S. Highway 80 East in Mesquite. Two miles from the property, the Urban District 30 industrial park is currently under construction and will create almost 1,000 jobs when complete. The previous owners had implemented upgrades to 28 units, and TruAmerica will finish renovations with new appliances, flooring and lighting fixtures.
The Heights is located at 1901 NE Green Oaks Blvd. in Arlington.
- ◦Sale/Acquisition
