TruAmerica Multifamily, a national, institutionally-focused multifamily investment firm, had a successful year with the $300-million refinance of five multifamily properties in four states. Walker & Dunlop’s Russell Dey and Trevor Fase arranged the agency loans which encompassed more than 2,100 units in Florida, Georgia, Arizona and Tennessee.
The assets were acquired by TruAmerica in 2021 and include Sabal Palm at Carrollwood (432 units) Tampa; Slate Apartments (350 units) Atlanta; The Urban (435 units) Phoenix; Viera Cool Springs (468 units), near Nashville; Stillwater Palms 425 unit property near Tampa/St. Petersburg market.
Robert E Hart – Founder CEO & President of Los Angeles based TruAmerica commented “We already had excellent debt on these five properties but we proactively obtained even more attractive financing for our portfolio despite today’s environment.” This refinance will result in lower spreads and material reductions to debt service payments while mitigating risk with staggered maturity schedules across the portfolio.
Pictured: Stillwater Palms
