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National  + North Carolina  + Apartments  | 

TruAmerica Acquires 830-Unit Raleigh MF Portfolio for $109M

Los Angeles-based multifamily investment firm TruAmerica Multifamily has acquired a three-property multifamily portfolio in Raleigh for $108.7 million. The properties include Duraleigh Woods, a 362-unit apartment community built in 1986; Bridgeport, a 276-unit community, and Sailboat Bay, a 192-unit community with frontage on Lake Lynn.

Previous ownership upgraded the common area amenities and exteriors of the properties. TruAmerica plans to implement interior renovations that will include the addition of stainless-steel appliances, new cabinet fronts and hardware, vinyl plank flooring, tile backsplashes and modern lighting and plumbing fixtures.

Andrea Howard and John Currin of JLL’s Southeast Multifamily Team represented the undisclosed seller in the transaction.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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