On Thursday, TruAmerica Multifamily announced the completion of $146.7 million in asset recapitalizations in two major U.S. markets. The transactions involved Tesoro Ranch Apartments, a 400-unit community located in the Las Vegas metro area, and Junction at Vinings, a 360-unit institutional-quality property situated in Smyrna, GA – an affluent suburb of Atlanta. Specific terms were not disclosed.
According to Matt Ferrari, head of acquisitions and co-CIO at TruAmerica Multifamily: “Despite current market challenges, we remain actively engaged by leveraging our strong relationships with existing partners while also establishing new ones.” He added that these efforts have allowed them to focus on strategic investments such as Tesoro Ranch Apartments and Junction at Vinings – both high-quality properties situated in robust submarkets with solid demographics. With this infusion of new capital from their partners,TruAmerica is excited about continuing to enhance both properties for their residents’ benefit.
The news was originally reported by Connect CRE.
