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TruAmerica Multifamily Secures New Equity in Vegas, Atlanta Properties
TruAmerica Multifamily, a national, institutionally focused multifamily investment firm based in Los Angeles, said Thursday it completed $146.7 million in asset recapitalizations in two U.S. markets. The transactions include Tesoro Ranch Apartments, a 400-unit community in the Las Vegas metro area, and Junction at Vinings, a 360-unit institutional-quality asset located in Smyrna, GA, an affluent suburb of Atlanta. Terms were not disclosed.
“Despite the myriad challenges faced in today’s market, we continue to remain active by leveraging our deep relationships with existing partners while simultaneously establishing relationships with new partners,” said Matt Ferrari, head of acquisitions and co-CIO of TruAmerica.
Ferrari continued, “Those efforts have enabled us to double down on two strategic investments of Tesoro Ranch Apartments and Junction at Vinings, both high-quality communities in strong submarkets that benefit from solid demographics. TruAmerica is excited to continue improving both properties with this infusion of new capital.”
- ◦Financing
