TruAmerica recently paid $40.1 million for a 180-unit apartment complex in Chandler, Arizona. Univest was the buyer. Newmark’s Chris Canter, Brad Goff and Brett Polachek TruAmerica Multifamily, in the acquisition. Mitch Clarfield secured the financing from Fannie Mae on behalf of Univest.

Constructed in 1986, Park Tower Apartments comprises newly renovated one- and two-bedroom units. Each unit features spacious private patios.

The national multifamily market recorded $45.2 billion in transaction volume, a 12% increase from Q1 2025, driven by improved debt market conditions and renewed investor interest in core-plus and value-add properties, according to Newmark’s Q2 2025 U.S. Multifamily Capital Markets Report. In the Southwest, transaction activity surged, with cap rates for stabilized assets averaging 5.8%, a 30-basis-point decrease year-over-year. Leverage levels improved to an average of 65% LTV, supported by competitive lending from Fannie Mae, Freddie Mac and life insurance companies. Class B properties with recent renovations, such as Park Tower, are commanding premium pricing due to strong demand from renters for upgraded units in high-growth secondary markets.