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TruAmerica Multifamily Expands Florida MF Footprint
TruAmerica Multifamily acquired Solis at Winter Park, a 596-unit Class-B multifamily property in Orlando, in a transaction valued at $79 million. Built in 1986, the low-density 30-acre property comprises 29, two- and three-story buildings with a mix of one- and two-bedroom apartment homes. TruAmerica plans to renovate all apartment homes as leases expire.
TruAmerica’s Matthew Ferrari says, “Orlando exhibits excellent multifamily fundamentals, and Solis is a great value add asset in the best zip code in the market.”
With the acquisition, TruAmerica has invested roughly $500 million in nine Florida communities since entering the market in early 2017. The Los Angeles-based real estate investment firm’s Florida apartment portfolio totals more than 3,700 units, with more than 60% in the greater Orlando market.
TruAmerica assumed a Freddie Mac fixed rate loan, and added a Walker & Dunlop-arranged supplemental loan. CBRE’s Shelton Granade, Luke Wickham, and Justin Basquill marketed the asset on behalf of the undisclosed seller.
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- ◦Sale/Acquisition

