TruAmerica Adds A Dallas Area Property to its Portfolio

TruAmerica acquired Rancho Mirage, a 310-unit apartment complex in Irving. It’s TruAmerica’s ninth investment in Texas and its fourth in the Dallas area. The company has picked up nearly 3,000 units in Texas in the last 18 months. TruAmerica’s Ammanuel Metta says the area provides value, “Despite the tremendous population growth that we have experienced here over the past several years, the relative affordability, ratio of household income to rent, is still way below other major metros in the sunbelt states.”

Besides the four communities in the Dallas area, TruAmerica owns 5 more in Houston and San Antonio. Nationwide, the company owns multifamily properties in 16 states, making up about 59,000 apartment units