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TruAmerica Multifamily Snags Tempe MF’s for $67M
Los Angeles-based TruAmerica Multifamily, in joint venture with an unnamed institutional capital partner, acquired a two-property, 472-unit apartment portfolio in Tempe, AZ for $67.3 million. The deals boosts TruAmerica Multifamily’s local portfolio to more than 2,400 units.
TruAmerica Director of Acquisitions Chris MacLeod says, “We continue to be net buyers in Phoenix, and Tempe in particular.”
The portfolio is comprised of the 276-unit Highland Park (pictured) and 196-unit Park View, which are located within a block of one another near the I-10 and Baseline Road. Each low-density garden-style development was built in the early 1980s and feature one, two and three-bedroom apartment homes. The communities are highly- amenitized with resort style pools, fitness centers, clubhouses and recreational areas.
CBRE Capital Markets’ Brian Eisendrath originated financing through Freddie Mac’s Select Sponsor Program. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch brokered the transaction.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition

