Deals
TruAmerica Buys $482 Million of Apartments in Tender-Love Plan
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TruAmerica Multifamily joined investors including Guardian Life Insurance Co. of America and Allstate Corp. in buying a portfolio of California apartments for $482 million to take advantage of rising rents in the state.
The 2,669-unit purchase from Newport Beach, California-based JH Real Estate Partners Inc., includes mostly second-tier apartments from the 1980s, the buyer said in a statement today. The 14 properties are concentrated in the Los Angeles, San Diego and Inland Empire regions.