Atlanta & Southeast + Atlanta + Apartments | January 24, 2019

TruAmerica-Led JV Acquires Pair of ATL MFs for $127M

TruAmerica Multifamily, in partnership with Tokyu Land US Corporation, made its first investments in Georgia, acquiring two Atlanta apartment communities in separate transactions totaling $127.35 million. The properties include:

– Vinings Corner, a 360-unit community located at 2101 Paces Ferry Road SE in Smyrna
– The Prato at Midtown, a 342-unit Class B property located at 400 Central Park Pl., NE in the Old Fourth Ward.

TruAmerica’s Matthew Ferrari says, “We look at new markets very strategically and cautiously, and the acquisition of Vinings Corner in Smyrna and The Prato at Midtown in Atlanta’s Old Fourth Ward was the right opportunity to enter the Georgia market and expand our footprint in the Southeast in a very meaningful way.”

Both acquisitions were financed via Freddie Mac, and arranged by CBRE’s Brian Eisendrath for Vinings Corner, and Walker & Dunlop’s Trevor Fase and Russell Dey.

CBRE’s Kevin Geiger marketed Vinings Corner on behalf of the seller. JLL’s David Gutting and Derrick Bloom marketed Prato at Midtown on behalf of the seller.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.