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TruAmerica Multifamily, Blackstone Team Up in $127M MF Deal
Los Angeles-based TruAmerica Multifamily and an affiliate of Blackstone Real Estate Income Trust, Inc. acquired a 635-unit multifamily portfolio with assets located in the Denver and Seattle metros. The transaction was valued at $126.5 million.
TruAmerica’s Noah Hochman says, “Blackstone has made a significant commitment to the Class B value-add multifamily space and together we have long been looking for the appropriate investment in which to partner.”
The roughly 94% occupied portfolio includes two apartment communities that have experienced little or no renovation since constructed in 1984 and 1991.
Properties include:
– Walden Pond, a 316-unit, golf course community at 9990 12th Ave. West in Everett, WA
– Montair, a 319-unit, garden-style community at 8901 Grant St. in Thornton, CO
TruAmerica and the unnamed seller were represented by CBRE’s John Hallgrimson, Eli Hanacek and Frank Bosl in the Walden Pond transaction and by Moran & Company’s David Moran and Pamela Koster in the Montair transaction.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


