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TruAmerica Doubles Boston Apartment Portfolio
TruAmerica Multifamily has added more than 250 units to its multifamily portfolio in Massachusetts with the acquisition of the Marquee at Andover and Lux at Stoughton in two separate transactions. Deal terms weren’t disclosed.
The Los Angeles-based value add multifamily investment firm, which entered the Boston MSA in late 2020 with the purchase of The Preserve at Cohasset, now counts nearly 500 apartment homes in its local portfolio.
“In addition to a relatively easy commute to downtown Boston, both suburban markets are coming into their own as satellite business hubs,” said Alex King, director of acquisitions at TruAmerica.
Both properties have been well maintained but will benefit from TruAmerica’s value-add program, which will include improvements to the amenity spaces and apartment interiors, King said.
The seller of Marquee at Andover was represented by Chris Phaneuf of JLL. Simon Butler of CBRE represented the seller of Lux at Stoughton.
- ◦Sale/Acquisition
