TruAmerica Pays $120M for Perimeter Center Rental Community

TruAmerica Multifamily acquired Bricks at Perimeter Center for $120 million. Clark Ventures was the seller of the 446-unit, garden-style apartment community in Atlanta’s Perimeter Center submarket. Clark paid $69.5 million for the property in 2016.

TruAmerica has committed to revamping nearly all of the rooms in the complex, which was built in 2007. The company plans to incorporate a premium finish package, including quartz countertops, stainless steel appliances, new flooring, and updated cabinetry and hardware.

TruAmerica’s Wes LaBar added, “Bricks at Perimeter Center represents the type of opportunity we continue to seek: high-quality construction in a supply-constrained submarket, acquired at a meaningful discount to replacement cost and with a clear opportunity to create additional value.

The acquisition further expands TruAmerica’s Atlanta footprint to 3,374 units and contributes to the firm surpassing $1 billion in total acquisition volume in 2026.Kevin Geiger of CBRE facilitated the transaction.

TruAmerica Multifamily is a national, vertically integrated, institutionally focused multifamily investment firm.