On Thursday, TruAmerica Multifamily announced the successful completion of $146.7 million in asset recapitalizations across two markets in the United States. The transactions involved Tesoro Ranch Apartments, a 400-unit community located in the Las Vegas metropolitan area, and Junction at Vinings, a 360-unit institutional-quality property situated in Smyrna, GA – an affluent suburb of Atlanta. Specific terms of these deals were not disclosed.
According to Matt Ferrari – head of acquisitions and co-CIO at TruAmerica – despite facing numerous challenges within today’s market landscape, their firm remains actively engaged by leveraging strong relationships with existing partners while also establishing new ones. This approach has allowed them to make strategic investments into both Tesoro Ranch Apartments and Junction at Vinings; two high-quality properties situated within robust submarkets with solid demographics. With this infusion of new capital from their equity partners, TruAmerica is excited about continuing to enhance both properties for future success.
This news was originally published on Connect CRE.
