06/01/2023

Industry Luminaries Share Reasons Behind Generous Sponsorship of Jewish Federation of Greater Los Angeles’ Real Estate and Construction (REC) Network Dinner to Honor Industry Icon Bob Hart

06/01/2023

TruAmerica Celebrates 10 Year Anniversary

01/27/2023

TruAmerica Promotes Amir Eshkol to Chief Construction Officer

TruAmerica Multifamily promoted Amir Eshkol from executive managing director of construction services to chief construction officer in its Los Angeles office.  Eshkol has more than 30 years of construction and development experience, having worked on multifamily capital improvements for companies such as Kennedy Wilson Multifamily and Goldrich and Kest Industries. He joined TruAmerica in 2013 as the firm’s first construction project manager.

01/04/2023

Multifamily Industry to See More Challenges and New Opportunities in 2023

A new year always means new opportunities for multifamily investors and developers. But this year begins with a set of challenges that were not present at the start of 2022. Rising interest rates, a slowing economy, and the impasse over pricing between buyers and sellers are creating a turbulent capital markets environment. Many multifamily investors are ready to take advantage of opportunities as loans come due and property owners face other economic issues.

11/01/2022

What’s Ahead For Multifamily After 6th Interest Rate Hike

With assets continuing to perform well, investors have less incentive to sell and often place deals on the back burner. “You continue to have very strong operational fundamentals (in multifamily),” said Noah Hochman, co-chief investment officer and head of capital markets for TruAmerica Multifamily. “Owners are still getting 5 percent to 15 percent organic rent growth right now.”

08/16/2022

Women Take on Real Estate

Working in male-dominated industries, women in in architecture, engineering and construction careers may not have many other women to interact with and learn from. This issue isn't lost on other women in commercial real estate. Tammi Warner, managing director of transactions and underwriting at TruAmerica Multifamily in Los Angeles for one keeps it top of mind.

08/12/2022

Apartment Sales Surge Slows

Property owners will have to focus on the basics, such as driving top-line revenue, controlling expenses and making consistent investor distributions, said Matt Ferrari, co-chief investment officer and head of acquisitions at TruAmerica Multifamily. "Equity is going to revert back to the best-in-class operators that have a consistent track record with the best sources of capital."

08/03/2022

Multifamily Prices Adjust to Macroeconomics Throughout Texas Markets

"Come Fall, we should see an uptick as investors try to meet their allocations for capital deployment. So it’s a bit of a recalibration, which sometimes is just a chance to reeducate the investor base when debt pricing and asset pricing have moved," said Ammaneul Metta, senior director of acquisitions in the Dallas office of TruAmerica Multifamily.

08/03/2022

TruAmerica Acquires Five Communities in Florida, Ohio and Arizona

TruAmerica has acquired a batch of communities totaling nearly 1,500 units in Florida, Arizona and Ohio. The firm acquired the five suburban apartment communities for undisclosed amounts in three separate transactions around the same time Matthew Ferrari, co-CIO at TruAmerica who led the acquisition team, said in prepared remarks that Sun Belt markets like Phoenix and Orlando are seeing strong fundamentals. The markets also showed resilience even with the pandemic and a rising interest rate environment.

06/10/2022

TruAmerica Multifamily Acquires 156-Apartment Home Community in Lacey, WA

TruAmerica Multifamily has acquired The Dakota, a 156-unit garden-style apartment community in Lacey, WA, a suburb of Olympia for $54 million. The 15-year-old institutional quality asset brings the number of multifamily units in TruAmerica’s Puget Sound portfolio to approximately 2,300 units.

04/21/2022

Stella Pappas Joins TruAmerica to lead investor relations team

Stella Papas has joined TruAmerica Multifamily as a senior manging director and head of investor relations. Pappas, with nearly two decades of real estate investment experience will be responsible for all facets of the firm's fundraising efforst and investor relations program and will seve on the firm's investment committee.

02/23/2022

TruAmerica’s Bob Hart Joins Conversation with the Honorable Henry Paulson

Bob Hart joins the CEO's of Marcus & Millichap, and ICSC in a lively discussion with the Honorable Henry M. Paulson, Jr., the former CEO of Goldman Sachs and 74th Secretary of the United States Treasury for a conversation spanning the economic outlook, inflation, Federal Reserve policy and factors impacting commercial real estate.

02/23/2022

TruAmerica Launches Build-for-Rent Development Division

Los Angeles-based TruAmerica Multifamily is the latest firm venturing into the hot single-family build-for-rent space. The vertically integrated multifamily investment company has launched a build-for-rent development arm to build townhome and single-family rental communities in suburban markets that are synergistic with its existing multifamily platform. Mitch Rotta, a build-for-rent veteran, has been tapped as senior managing director to lead the new division.

12/08/2021

TruAmerica Multifamily closes first discretionary fund at $575m

Los Angeles-based TruAmerica Multifamily has successfully closed its first discretionary fund, theTruAmerica Workforce Housing Fund, with $575 million in equity commitments.  The fund surpassed its fundraising target of $400 million, with backing from both existing institutional capital partners and new investor relationships.

08/11/2021

Bob Hart Guests on Bloomberg TV’s Wall Street Week

Millions of Americans were faced with possible eviction because of the pandemic but were protected by Congress with an eviction moratorium. When those protections lapsed, the CDC stepped in with a new moratorium. But the issues still remain particularly for the hundreds of thousands of landlords who are not receiving rent from their tenants. Bloomberg’s David Westin invited Bob Hart to appear on Wall Street Week to explain how the eviction moratorium has impacted multifamily investment in the United States.

07/28/2021

Taking Stock of Nashville’s Strengths

TruAmerica’s Matt Ferrari depicts Music City’s alluring profile and discusses what’s ahead for the metro.

06/01/2021

TruAmerica Multifamily Adds Over 900 Units to Portfolio

TruAmerica Multifamily has added 903 apartment units to its portfolio with the acquisition of two garden-style communities in Nashville, Tennessee, and Phoenix in separate transactions totaling $196 million. The Urban, a 435-unit community built in 2005 in Phoenix, is a controlled access property that features floor plans that range in size from studio to three-bedroom, two-bathroom units. In a separate transaction, TruAmerica made its second investment in the Nashville MSA with the acquisition of the 468-unit Viera Cool Springs in Franklin.

04/06/2021

Does Multifamily Benefit from the $2T Federal Infrastructure Plan?

A wide-ranging $2.3 trillion infrastructure plan released by President Joe Biden Wednesday that includes $213 billion to address affordable housing issues for low- and middle-income renters and buyers, upgrades the nation’s public housing stock and seeks to remove barriers to development received wide approval from multifamily executives who said housing has historically helped lead the country out of recession.

02/04/2021

TruAmerica Names Orie Paul as Senior Director Capital Markets and Investor Relations

Orie Paul has joined TruAmerica Multifamily as senior director, capital markets and investor relations. Paul joins TruAmerica from PIMCO Investment Management, where he served as vice president and relationship manager out of the global investment firm’s New York office.

12/23/2020

TruAmerica Enters Texas Market

TruAmerica Multifamily has entered the Texas market with the $63.5 million acquisition of the 408-unit Arbors of Las Colinas. Yardi Matrix data shows that the multifamily firm acquired the community in Irving, TX from the Kislak Co.

12/04/2020

Workforce Investment Heats Up in Tough Economy

TruAmerica Co-CIO Matt Ferrari said the company played defense until May to make sure the portfolio would perform on rent collections. By October, the company made five acquisitions totaling 1,480 units in Atlanta, Las Vegas, Orlando and Tampa, Fla., and Southern California and expected more before year-end.

Atlanta Journal Constitution

10/29/2020

Apartment Renters, Buyers Heading for Suburbs

Moving to the suburbs is a way to save money and get more space, especially for newly cooped-up lifestyles. And that has started happening, say some commercial real estate brokers and residential real estate agents.

10/07/2020

TruAmerica Multifamily Named 2020 Multifamily Influencer

The year 2020 has been a long and hard slog for everyone, including the experts in the multifamily field. Navigating today's forces, to say nothing of a nationwide eviction moratorium, takes skill and wisdom. We have made our picks based on what these people, teams and companies have added to the multifamily community in the past 12 months. And this year, that is saying a lot.

07/22/2020

Tammi Warner Tabbed as One of Real Estate Forum’s Women of Influence 2020

Welcome to our 2020 edition of Women of Influence. As we have been doing for many years now, we have based our selection of nearly 200 candidates on such criteria as career achievements, community outreach and mentorship within the industry. And as we experienced in previous years, we found it hard, to say nothing of humbling, to sift through the applications and select just the right nominees. As you will see as you flip through the following pages, these women come from diverse backgrounds with a wide array of specialities. What they have in common is they have all made a distinctive mark in commercial real estate.

05/26/2020

In Focus: Bob Hart on workforce housing

In part one of a two-part series, Bob Hart, president and CEO, founder, at TruAmerica Multifamily, discusses workforce housing and why it is important for economic growth in the U.S., how multifamily housing has lead the recovery in past downturns and how multifamily housing will be expected to recover if there is a post-pandemic recession

05/26/2020

Robert Hart Named to LABJ’s List of 500 Most Influential People

The Business Journal's fifth annual LA500 list honors the most influential leaders and executives in Los Angeles. This year’s collection of the leading figures from the city’s business community highlights the work that took place and the progress that was made in the months before Covid-19, but it also serves as a reminder that L.A. is peopled by some of the smartest, most innovative and staunchly resilient business talent anywhere in the world.

05/04/2020

For Hart, Multifamily is What Matters

For Robert Hart, multifamily real estate is more than just a business that has brought him vast success. It’s also a category that Hart, who grew up in an apartment outside Boston, happens to be passionate about. After leadership roles at Kennedy Wilson Inc., Heitman and Executive Life Insurance Co., Hart founded Century City-based real estate investment company TruAmerica in 2013 to fully focus on the multifamily sector. Today, TruAmerica has more than $10 billion worth of multifamily assets under management across 40,000-plus units.

04/23/2020

NMHC: Rent Payment Rate Rises to 95% of Previous Month

TruAmerica’s rent payment rate is “tracking close” to prior months, according to Hart, and has progressed from 60% near the start of the month to 93.1% as of April 19. The organization has worked closely with regional managers to work through resident issues and create payment plans and deferrals.

02/20/2020

TruAmerica establishes a Central U.S. headquarters office in Dallas, TX

Ammanuel Metta joins TruAmerica as Senior Director of Acquisitions and will lead the firm’s investment efforts in Texas and the Midwest. Metta brings more than 12 years of multifamily investment experience to the position, the last seven with Dallas-based Price Realty Corporation.

01/17/2020

Affordability, Local Labor Priorities for TruAmerica Multifamily

TruAmerica’s expansion from California to Florida in just six years is a testament to the company’s great success paying attention to some of the most critical housing themes today—local labor and affordability—and across the diversity of the markets that the company has entered, it is finding ways to stay true to those two core objectives.

08/15/2019

Why one multifamily firm is switching from building to buying

An oversupply of new Class A buildings in major cities can make existing multifamily buildings, which are more likely to be Class B product, more attractive from an overall return and cashflow perspective, according to Los Angeles-based TruAmerica Multifamily founder and chief executive Bob Hart. Class A rents are softening because the renters tend to be renters by choice.

08/15/2019

Cynthia and Robert Hart ’79 Giving Back to WPI

Bob Hart understands the value of giving back to his alma mater and has been generous with his time, talent and treasure. He has served WPI as a member of the Civil Environmental Engineering Advisory Board and is a current member of the Board of Trustees. Recently, Bob and his wife Cynthia made a $2 million commitment to WPI. The majority of their generous gift is unrestricted allowing WPI to direct the funds the the university's highest priorities

08/15/2019

Las Vegas apartment complex fetches highest price in Nevada history

In another sign of Las Vegas' heated rental market, a sprawling apartment complex has sold for the highest price in Nevada history. TruAmerica Multifamily announced Monday that it acquired Allanza at the Lakes with an undisclosed partner for $152 million. The 896-unit complex, off Durango Drive is the fourth largest apartment property in Nevada.

08/02/2019

TruAmerica Pays $77M for Phoenix Apartments

The multifamily investment firm increased its Arizona presence with the purchase of a 520-unit apartment community that it plans to renovate. The property, located at 2902 W. Sweetwater Ave., was built in 1999 and offers one- to three-bedroom units. Covington Park boasts an occupancy rate of 98 percent with average rents at $1,014, according to Yardi Matrix data

06/27/2019

TruAmerica on Investing in West Coast Markets

In an interview with Multi-Housing News, Co-Chief Investment Officer Matthew Ferrari reveals how close the company is to hitting $1 billion worth of acquisitions for this year, what secondary markets is the company investing in, as well as his predictions for top West Coast markets. Zach Rivas, director of acquisitions for the company, shares the ways in which investors can best maximize their returns in markets like Denver.

06/07/2019

Real Estate Forum Names Bob Hart The Best of The Best Bosses in the Business

How easy is it to identify a "best boss" anyway? We at Real Estate Forum had the experience of finding that out as we shifted through numerous nomination forms that contained shining examples of leadership from colleagues, employees, and team members.

02/15/2019

TruAmerica Multifamily Transactions Total $1.3 B in 2018

TruAmerica Multifamily’s transactions—both acquisitions and dispositions—hit $1.3 billion in 2018. Acquisition volume alone grew to nearly $1 billion in 2018, as the firm has continued to buy in growth markets. In addition to the firm’s transaction volume growth, it is entering 2019 with key promotions to propel future growth. The promotions include Noah Hochman and Matthew Ferrari to co-chief investment officers and Tammi Warner to managing director of transactions and Underwriting.

02/04/2019

TruAmerica Multifamily Team Takes Part in City of Hope “Walk for Hope”

A group of 25 team members from TruAmerica Multifamily, including Chief Executive Bob Hart and his daughter Mia, took part in City of Hope’s 2018 Walk for Hope Nov 4. TruAmerica’s group was part of the larger LA Real Estate team, which raised a combined $13,525 for the hospital.

01/28/2019

TruAmerica Multifamily joins heated Atlanta Apartment market

TruAmerica Multifamily has jumped into the heated Atlanta apartment market. TruAmerica Multifamily and Tokyu Land U.S. Corp. paid just over $127 million combined for two projects — Vinings Corner in Smyrna and The Prato at Midtown. The value-add acquisitions are the partnership’s first in Atlanta. Since entering the Southeast in 2016, TruAmerica has focused its investments largely in Florida, where it built a nearly 4,000-unit portfolio in Orlando, Tampa, Fort Myers and Palm Beach.

01/28/2019

While 2018 sales hit record volume, things did slow in Q4. Find out what buyers expect from the year ahead.

TruAmerica Multifamily purchased $1 billion of apartment properties in 2018 and plans to acquire roughly the same amount in 2019.

“We will continue to look for under-managed assets or assets with renovation upside in first- and second-ring suburbs around primary and secondary metros,” Ferrari says. “Ideally these suburban assets will be in submarkets that are insulated from new supply.”

01/28/2019

Did You Hear? TruAmerica Taps Hochman, Ferrari as Chief Investment Officers

TruAmerica Multifamily experienced such a busy year in 2018 that it decide the tie is right to name a chief investment officer -- or two. The fast-growing Los Angeles multifamily investment firm said it promoted Noach Hochman and Matthew Ferrari to chi-chief-investment officers.

11/15/2018

Bricks, Mortar, Steel and Service: Here are CRE’s Veterans, Part 2

Eryn Mack: I have chosen a civilian profession that allows me to continue a similar level of contribution at TruAmerica Multifamily. As the director of Culture and Organizational Effectiveness, I continuously lean on my military training to be an effective problem solver.

11/15/2018

Bricks, Mortar, Steel and Service: Here are CRE’s Veterans, Part 1

Once a year, we take the opportunity to thank those Americans who have served our country, sacrificing so much to protect those back home. We don't have to look far — the commercial real estate industry is packed with people who began their careers in the Armed Forces including TruAmerica's Chris MacLeod.

10/10/2018

TruAmerica Still Bullish on Value-Add Buys

TruAmerica Multifamily is proving that value add is not a niche play but a preferred investment strategy that offers higher returns and more opportunities. The company, a joint venture between Robert Hart and The Guardian Life Insurance Co. of America, recently acquired a 596-unit community in Orlando for $79 million, growing its Florida footprint to 3,700 apartments. TruAmerica’s portfolio, now made up of about 37,000 units, is worth $7.9 billion, according to a recent statement from the firm.

09/26/2018

How Does Company Culture Really Impact the Bottom Line?

TruAmerica Multifamily has hired Eryn Mack, Ed.D, as director of human resources to focus on creating a culture of independent thinkers and collaboration. Such a culture will encourage contributions to projects and produce stronger, quality work.

09/19/2018

TruAmerica Multifamily Makes New Appointments

TruAmerica Multifamily has been expanding its employee base in an effort to grow its national platform. The company promoted Matthew Ferrari to senior managing director and hired former Bascom Vice President Christopher MacLeod as director of acquisitions on the West Coast, among other recent employee additions.

09/10/2018

Solis at Winter Park joins TruAmerica’s growing Central Florida apartment holdings

Having picked up five other properties in Metro Orlando during the last year-plus, TruAmerica takes ownership of its largest property here -- 596 units on about 30 acres at 7502 Sun Key Blvd. between Aloma Avenue and University Boulevard.

09/05/2018

TruAmerica spends $86M to acquire another multifamily property in the OC

A Los Angeles-based real estate firm is gaining a foothold in the Orange County multifamily market.
TruAmerica Multifamily, in partnership with ASB Real Estate Investments, has paid $85.8 million to acquire Corte Bella, a multifamily property in Fountain Valley, the companies announced Wednesday.

08/09/2018

TruAmerica, Intercontinental Snap up San Diego TOD

TruAmerica Multifamily and Intercontinental Real Estate Corp. have acquired the leasehold interest in what the companies say is the largest transit-oriented development in San Diego County, the 527-unit Alterra & Pravada at Grossmont Station in La Mesa, for an unspecified price. The property is adjacent to the Grossmont Transit Center at 8727 Fletcher Parkway in La Mesa.

06/20/2018

What’s In Store for the Apartment Industry

While demand for multifamily housing remains strong, the sector faces a number of challenges, according to multifamily experts speaking at the National Association of Real Estate Editors annual real-estate journalism conference in Las Vegas. That panel, moderated by MHN Editorial Director Suzann Silverman, also included Robert Hart, president & CEO of TruAmerica Multifamily, and Jeff Brodsky, vice chairman of Related Cos.

03/28/2018

Why TruAmerica is Expanding its East Coast Footprint

After launching in 2013, Los Angeles-based TruAmerica Multifamily made its first East Coast investment in April 2016. The acquisition of a three-asset portfolio in Baltimore was the driving factor behind an East Coast division based in Arlington, VA. Since then, TruAmerica has been active in Florida and Maryland and eyes additional markets.

02/09/2018

Investors embrace multifamily as demographic trends shift

The multifamily housing sector is attracting real estate investors that wouldn't have looked at it previously. Not only are these investors moving into the multifamily market, but also much of the interest is for older or Class B properties in secondary markets.

01/04/2018

TruAmerica, Blackstone Team Up to Buy Denver, Seattle Apartments

TruAmerica Multifamily is teaming up with Blackstone Group LP to acquire apartment buildings in Denver and Seattle for $126.5 million. The deal marks the Los Angeles-based real estate investor's first transaction with the private equity giant.

12/26/2017

Investors Pile Into Suburban Rental Housing

Now that the urban luxury apartment boom is winding down, some big investors are fanning out to the suburbs scouring older and less glamorous buildings that ring metropolitan central business district in search of high yield.

12/20/2017

Western Apartment Shop Targets East Coast

After establishing a few beachheads on the East Coast, TruAmerica Multifamily is gearing up to expand its presence in the region. The Los Angeles shop aims to buy as much as $800 million of value-added apartment properties in the Eastern U.S. over the next two years.

10/18/2017

TruAmerica’s Bob Hart Honored by City of Hope

Robert Hart, CEO of TruAmerica Multifamily was recently presented with the Spirit of Life Award from the Los Angeles Real Estate & Construction Industries Council of the The City of Hope for his outstanding professional and philanthropic contributions. Past recipients include Victor Coleman of Hudson Pacific Properties, Wayne Ratkovich of The Ratkovich Companies, Catherine and John Kilroy, Jr. of Kilroy Realty Corporation, Richard Ziman of American Value Partners and Edward Roski of Majestic Realty Co.

10/09/2017

More Institutional Investors Warming up to Workforce, Affordable Housing

Institutional investors are shelling out significant amounts of capital to take debt and equity positions in affordable and workforce housing as the long U.S. apartment bull market enters its later stages and yields tighten on new upscale apartment supply in major U.S. markets.

10/02/2017

Workforce housing catches eye of managers, investors

Real estate managers are ramping up investments in workforce and affordable housing, focusing on properties outside the popular and pricey urban core. Expected demand putting sector at top of the list for firms avoiding urban core.

07/27/2017

TruAmerica Makes 3rd Florida Investment

TruAmerica Multifamily acquired Ashley Lake Park, an apartment community in Boynton Beach, Fla., for $49 million. This marks the company’s third acquisition in Florida within the past 30 days. The property was sold on behalf of a joint venture between Robbins Electra and LEM Capital.

06/14/2017

Ares Management and TruAmerica Acquire Arizona Apartment Community

The acquisition of Broadstone Gateway marks the second investment for the Ares-TruAmerica joint venture, which in November acquired a 1,400-unit multifamily portfolio in Baltimore for $236 million.

06/04/2017

Joint venture pays $98M for Orlando rentals

A joint venture paid $98 million for a two-property, 708-unit apartment portfolio in Orlando. The joint venture of Bahrain-based Investcorp and Los Angeles-based TruAmerica Multifamily paid $138,418 per apartment for the 360-unit Montevista at Windermere and the 348-unit Highpoint Club.

03/23/2017

Every day is bring your dog to work day at more and more L.A. offices

Office landlords are following a path blazed by apartment owners, said Lynn Owen, chief operating officer at TruAmerica, a Los Angeles company that owns 32,000 apartments.

02/24/2017

Bahrain’s Investcorp Continues to Bank on US Multifamily

The New York-based US real estate arm of Investcorp, a Bahrain-based manager of alternative investments, has invested in three multifamily housing properties including one in California with TruAmerica Multifamily

01/23/2017

Western Star

TruAmerica Multifamily's CEO knows something about how to build a major enterprise quickly from a modest beginning. In less than four years, Los Angeles-based TruAmerica has established itself as one of the fastest-growing private real estate companies in the U.S. Today, TruAmerica owns outright or manages $6.7 billion in assets, representing 32,298 apartment units.

12/29/2016

TruAmerica Completes $675 Million in Transactions Q4

TruAmerica Multifamily has sold four apartment communities located in the Seattle and San Francisco Bay Area markets for $275 million, capping an active fourth quarter in which the Los Angeles-based investment firm closed on transactions totaling $675 million.

11/14/2016

Ares, TruAmerica acquire MD apartment portfolio for $236 million

A set of rental communities in the Baltimore area has sold to California investors for $236 million, the buyers said Monday. Funds managed by Ares Management and its investment partner TruAmerica Multifamily purchased the 1,402-unit portfolio, deepening the firms' holdings on the East Coast.

11/07/2016

Bob Hart: The West Coast is Our Home

It won’t be surprising to anyone in the commercial real estate industry that TruAmerica Multifamily has had another big year. The firm, which has been aggressively acquiring value-add workforce housing projects along in the Western US since its inception in 2014, expanded its acquisition territory to the East Coast with a new office in Washington DC.

11/07/2016

Investcorp and TruAmerica Acquire California apartment complex for USD 92m

TruAmerica Multifamily, in a joint venture with institutional capital partner Investcorp, has acquired The Highlands, a 556-unit garden-style apartment community in the Inland Empire community of Grand Terrace, California in an off-market transaction valued at USD92 million.

09/07/2016

TruAmerica Teams with MSD Capital to Acquire 802-Unit Las Vegas Portfolio

TruAmerica Multifamily in partnership with MSD Capital has made its largest investment in Southern Nevada with the acquisition of Las Vegas garden-style multifamily communities in an off-market transaction.

07/12/2016

TruAmerica Spends $80.9 Million for 644-Unit Apartment Community in Scottsdale

TruAmerica Multifamily in Los Angeles, Calif. has added to its holdings in the Valley with the $80.9 million ($125,621 per unit) acquisition of the 644-unit Scottsdale Springs apartments located at 7791 E. Osborn Road

06/13/2016

Investors Snap up New Bayview Apartment Complex for $64 Million

The Bayview has seen big home price appreciation and rising rents over the past few years. The 5880 Third Street site sits length Muni T line.

06/10/2016

TruAmerica on the Benefits of a Value-Add Strategy

MHN spoke with founder Bob Hart about his company's unique investment strategy and what's contributed to its significant growth as it comes up on its three-year anniversary.

06/10/2016

Investors snap up new Bayview apartment complex for $64 million

The Bayview has seen big home price appreciation and rising rents over the past few years. The 5880 Third Street site sits along the Muni T line.

05/04/2016

TruAmerica bolsters portfolio with Tempe buy

This is the third and largest multifamily investment in the Phoenix area for TruAmerica and its fourth joint venture with Investcorp in fifteen months. Los Angeles-based TruAmerica manages a portfolio of more than 27,000 units nationwide of which 923 units are located in greater Phoenix including Trevi, a 290-unit community in Chandler, and Avenue 25, a 254-unit community in North Phoenix.

05/02/2016

Three Baltimore-Area Apartment Developments Sold

Three apartment developments in the Baltimore area that together boast more than 1,000 units have sold for $187 million, the California-based buyer announced on Monday.

03/01/2016

LA Firm Pays $51.1M for Las Vegas-area Apartment Community

TruAmerica Multifamily dropped $51.1 million to buy Montego Bay, a 420-unit, Class B rental community at 1050 Whitney Ranch Drive, the second purchase in the Las Vegas Valley for the firm.

01/07/2016

Why TruAmerica Thinks LA has More Upside than The Bay

TruAmerica Multifamily and Intercontinental Real Estate Corp ended last year with a bang by purchasing the Millennium Woodland Hills, which it will rebrand The Motif, for $163M.

01/05/2016

Multifamily Vacancies Remain Close to Their Lowest in More Than a Decade

Some big investors have been exploiting the gap, buying and renovating Class B apartment buildings across the country. “It has the most durable cash flow. It’s the most recession-proof and it’s not as susceptible to increases in supply,” said Robert Hart, chief executive officer of TruAmerica Multifamily.

01/05/2016

Warner Center Apartments are Bought by an L.A. Investment Firm for $163 Million

The purchase of the Millennium Woodland Hills underscores heavy investor appetite for apartments amid a falling homeownership rate, as well as growing interest in the increasingly popular neighborhood.

12/21/2015

2016 Economic Outlook: Transactions

Bob Hart had run Kennedy Wilson’s multifamily shop since 2000. But when one of the Los Angeles–based owner’s big investors, New York–based Guardian Life Insurance, decided to start a real estate operating company, it gave Hart an opportunity to launch his own firm.

12/17/2015

California Company Buys Denver Apartment Complex for $105 Million

TruAmerica Multifamily acquired the 362-unit Veranda Highpointe Apartments at 6343 E. Girard Place in Denver for $105 million, just weeks after selling off another of its holdings in Denver.

12/15/2015

Why TruAmerica Continues Pacific NW Target

In an update to a previous article, the firm’s senior managing director of acquisitions tells GlobeSt.com that Seattle and Portland demonstrate some of the best economic fundamentals in the country. (Paywall)

12/11/2015

True to Its Word, California Investment Firm Continues Its Portland Apartment Buying Binge

TruAmerica Multifamily's CEO Robert Hart said that he hoped that the acquisition of The Haven at Charbonneau would be just the first of many more Portland-area deals for the California real estate investment firm.

12/07/2015

Leaders Convene to Battle Vet Homelessness

MWest’s Karl Slovin and TruAmerica’s Bob Hart ask landlords to donate units for the 5,000 homeless veterans on the streets in Los Angeles. (Paywall)

12/02/2015

Pop Quiz: Bob Hart on Buying and Renovating Class B Apartments

"We're not building Taj Mahals," CEO of TruAmerica Bob Hart says. "We're trying to offer a better-quality product to people who are blue or gray collar."

11/09/2015

How TruAmerica Became a Top 10 Multifamily Player in Just Two Years

TruAmerica Multifamily has been growing without pause, acquiring 42 multifamily assets totaling $1.5B in the past 12 months.

10/30/2015

TruAmerica Hits $2B Milestone

TruAmerica’s Bob Hart sits down for an exclusive video interview after announcing that the company has achieved $2 billion in investments two years. (Paywall)

10/15/2015

TruAmerica Venture Pays $47.5Mln for Chandler, Ariz., Apartments

TruAmerica plans to invest another $3 million upgrading the property, at 635 South Ellis St., which was built in 2005. It is 97 percent occupied.

09/25/2015

L.A. Firm Scoops Up Taylorsville Apartment Complex

Los Angeles-based TruAmerica Multifamily has purchased Madison Settler's Point, a 416-unit apartment property at 4770 S. 1565 West, along with six other complexes in suburban neighborhoods near Portland and Seattle.

09/17/2015

Housing Starts Slump 3% in August; Weekly Jobless Claims Fall

The rental demand is coming in part because the United States will add the equivalent of Illinois’ population to the housing market in the next five years, said Robert Hart, chief executive of TruAmerica.

09/01/2015

The TruAmerica Story: Smooth Sailing

While the firm has only been existence for a little more than two years, its roots go back more than a century and a half.

08/08/2015

TruAmerica and Intercontinental Acquire Largest Apartment Community in Santa Rosa for $59 Million

TruAmerica Multifamily and Intercontinental Real Estate closed on its largest acquisition in the San Francisco Bay Area with the purchase of Maribelle Apartment Homes, a 287-unit building for $59 million.

07/24/2015

TruAmerica Venture Buys 5 Northwest Apartments for $115Mln

A venture led by TruAmerica Multifamily has paid a total of $115 million for a portfolio of five apartment properties in the Portland, Ore., and Seattle suburbs.

07/24/2015

TruAmerica Buys 5 NW Complexes

TruAmerica Multifamily of Los Angeles said it has purchased a portfolio of five Seattle and Portland-area suburban apartment complexes for $115 million.

07/13/2015

TruAmerica Multifamily Turns Toward Acquisitions

TruAmerica Multifamily is looking for its next move in Las Vegas’ multifamily sector as their aggressive investments creating a ripple in the local market.

06/29/2015

Surprising Amenities Attracting Renters

In part two of this exclusive Q&A with TruAmerica, we learn about a few key amenities that provide the biggest bang for the buck, and find out why interior renovations are all about details.

06/22/2015

TruAmerica Grows Workforce Housing Portfolio

TruAmerica sees an extreme supply-demand imbalance in this segment of the Portland submarket, which presents acquisition opportunities.

06/10/2015

TruAmerica’s Affordable Housing Strategy: Buy Where Market Can’t Afford To Build New

TruAmerica Multifamily started 2015 with its largest acquisition yet, the $482 million purchase of 14 second-tier Southern California apartment properties from Newport beach, CA-based JH Real Estate Partners.

05/01/2015

Workforce Housing: A Value-Add Multifamily Strategy Can Deliver Durable Cash Flow

The multifamily sector led the recovery in commercial real estate over the past several years, as occupancy remained buoyant and U.S. housing markets began a secular shift toward renting that is still under way.

05/01/2015

Investor Universe – US: Playing Under Caution

In the largest multifamily asset purchase in Southern California in nearly two decades, TruAmerica and international institutional investors in January invested $482m in an off-market acquisition of a 14-property portfolio of value-added, class-B multifamily units that will be upgraded into affordable, higher-quality workforce housing.

04/20/2015

Why TruAmerica Wants Patient Capital Backing

Fresh on the heels of spending $482M on a 14-property portfolio of U.S. workforce housing, TruAmerica Multifamily CEO Bob Hart has declared that he prefers the backing of patient capital in today's market. (Paywall)

03/17/2015

Apartment Investors Shift to U.S. Suburbs After Crowding Cities

Real estate investor Robert Hart pulled into the lot of a 400-unit apartment community in a San Diego suburb last month, prepared to pay up for the recently completed project on a quiet residential street.

01/27/2015

TruAmerica Makes Bet on Upgrading Southern California Apartments

Last week, TruAmerica closed on its biggest deal yet: the $482 million acquisition of 14 apartment buildings scattered across Southern California. (Paywall)

01/26/2015

TruAmerica Plays in Class-B Market

TruAmerica’s Mark Enfield talks in depth about the company’s recent $481 million multifamily portfolio purchase, which is located in markets throughout Southern California. The portfolio would have taken years to assemble had the properties been purchased individually, and each of the 14 properties fit perfectly with the company's investment strategy. (Paywall)

01/22/2015

Los Angeles Firm Buys 14 Apartment Complexes for $482 Million

With the region’s apartment market thriving, a Los Angeles investment firm has acquired a 14- property portfolio for $482 million in one of the largest multifamily asset purchases in Southern California in two decades.

01/21/2015

TruAmerica Buys $482 Million of Apartments in Tender-Love Plan

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.

01/13/2015

Low Vacancy Means Rising Rents in SD

San Diego County renters can expect increases approaching 4 percent this year as vacancies continue to fall, new apartment investment company predicts. Greg Campbell, senior managing director of acquisitions Los Angeles-based TruAmerica Multifamily, said the trends reflect San Diego's inability to keep up with demand.

01/08/2015

Joint Venture Buys Vista Apartment Property for $86.2M

Los Angeles-based TruAmerica Multifamily and joint venture partner Investcorp of New York announced their purchase of the 456-unit Waterleaf Apartments in Vista for $86.2 million from RedHill Realty Investors LP of San Diego and Boston-based AEW Capital Management.

07/30/2014

Behind California’s Largest Multifamily Deal (This Year)

A partnership of Capri Capital Partners and TruAmerica Multifamily bought 2014's largest multifamily/mixed-use deal in California from a partnership of JH Snyder and Washington Capital Management.

07/25/2014

Koreatown Luxury High-Rise is Sold for $283M

The sale is a sign of Koreatown's rising status with young Angelenos and the desirability of housing near major transit lines. The complex, dubbed the Vermont, is at the intersection of Wilshire Boulevard and Vermont Avenue next to a subway station.

07/25/2014

The Vermont Trades Hands for $283M

Capri Capital Partners and TruAmerica Multifamily partner to buy the 464-unit luxury Koreatown high rise from J.H. Snyder in the state’s largest multifamily mixed-use transaction of the year. (Paywall)

07/17/2014

TruAmerica Enters Arizona Market with $35M Purchase of Phoenix Apartments

Avenue 25 Apartments, located just south of the intersection of Interstate 17 and Loop 101, is TruAmerica’s first purchase in the Arizona market. It was a pre-sale deal for $35.4 million. The off-market transaction was completed with pre-stabilization debt financing provided by Capital One Commercial Bank.

07/14/2014

TruAmerica Targets Denver in $229 Million Apartment Deal

TruAmerica, in a partnership with Allstate Life Insurance Co., recently bought the 710-unit Berkshires at Lowry complex in southeast Denver and the 404-unit Ponderosa Villas.

07/03/2014

Fairfield Multifamily Changes Hands

TruAmerica Multifamily, and the Guardian Life Insurance Company of America, continues its targeted Bay Area expansion with the $26 million acquisition of Summit at Paradise Valley, a 180-unit apartment complex in Fairfield.

06/27/2014

TruAmerica Multifamily Partners with Allstate

The partnership launches a new investment platform and acquires a 1,500 unit multifamily portfolio from Berkshire Property Advisors for $229 million. (Paywall)

06/25/2014

Apartment Market Rolls On

TruAmerica and its partners will spend between $25 million and $30 million renovating the apartment buildings, which were built in the 1970s and '80s. Mr. Hart said he hopes to see a 20% to 25% rise in rents over the next five years.

04/03/2014

TruAmerica Nears $1B Portfolio Goal

The real estate investment firm completes two acquisitions in Seattle and Denver totaling $82 million, bringing the firm’s portfolio to $293 million and closer to its 2015 goal of $1 billion. (Paywall)

10/31/2013

TruAmerica Lands Class-A San Diego Multifamily

The acquisition of the 221-unit Piazza D’Oro townhome complex represents the first acquisition for TruAmerica, recently launched by industry veteran Robert E. Hart and Guardian Life Insurance. (Paywall)

07/15/2013

Starting Anew

TruAmerica aims to invest $300 million to acquire, rehabilitate and manage Class A and B multifamily properties along the West Coast with the goal of a total portfolio worth $1 billion. It is targeting properties that require some upgrading, which will allow the company to add value to its purchases.