Prato at Midtown

Investment Highlights

Prato at Midtown represents TruAmerica’s first acquisition in the Atlanta MSA. The Property has an urban infill location in Atlanta’s Old Fourth Ward, one of the fastest growing neighborhoods in the city.  Atlanta consistently ranks among the nation’s leading MSAs in job growth and market rent growth, in large part due to major employers moving or creating jobs in Midtown and the continued talent coming out of nearby Georgia Tech. Prato at Midtown represents an opportunity to complete the value-add upgrades begun under previous ownership and make selective upgrades to the previously renovated 280 units. This provides an opportunity to renovate to a more modern finish level and achieve strong renovation premiums. TruAmerica also plans to enhance the community spaces by extending and renovating the fitness center, enhancing the bocce court area and patio, and enhancing the outdoor seating.

Property Highlights

Prato at Midtown is a 342-unit property located in the heart of Atlanta, GA in the Old Fourth Ward neighborhood.  The Property was built in two phases in 1991 and 1993 and consists of 7 two-story and three-story residential buildings on 11 acres, providing an attractive low-density setting in an urban environment.  The asset features an attractive unit mix of one-bedroom, two-bedroom, and three-bedroom homes with floorplans averaging 914 square feet.  The apartments feature walk-in closets as well as vaulted ceilings, washers and dryers, and ceiling fans in select homes.

Prato at Midtown benefits from a prime location approximately one mile west of Ponce City Market, a 2.1 million SF adaptive reuse of the former Sears, Roebuck building into a mixed-use project with a food hall, national and local retail offerings, office space, and luxury apartments. Ponce City Market is also located along the Beltline, a 33-mile multi-use trail on a former railway corridor that encircles the city of Atlanta. Outside of the ample retail offerings at Ponce City Market, the Property is two blocks south of a Publix and a Walgreens, providing access to non-discretionary shopping. In the immediate area, both WellStar Atlanta Medical Center and Emory Hospital Midtown are within blocks of the Property. These two medical centers employ 2,500 and 3,000 healthcare professionals, respectively. The only other intown hospital, Grady Memorial, is located just one mile south. Grady Memorial has 5,000 employees and is the 5th largest public hospital in the US. Overall, Midtown Atlanta is home to over 90,000 jobs, with major employers including Georgia Pacific (headquarters), AT&T, and the Federal Reserve.

Community Amenities

Junction at Vinings

Investment Highlights

Junction at Vinings represents TruAmerica’s second acquisition in the Atlanta MSA. Atlanta continues to have a dynamic and growing economy, consistently ranking among the nation’s leading MSAs in job growth and market rent growth. The desirable Vinings/Cumberland submarket is home to a number of major employers, The Battery, a live-work-play destination centered around the Atlanta Braves’ SunTrust Park, and highly rated public schools. Junction at Vinings represents a true value-add opportunity with 264 apartment interiors featuring classic or near-classic finishes and the remaining units in need of selective upgrades such as vinyl flooring and washer/dryer installation. This provides an opportunity to renovate to a more modern finish level and achieve strong renovation premiums. TruAmerica also plans to enhance the community spaces by converting the unused cricket court into an amenity space and making improvements to the pool areas.

Property Highlights

Junction at Vinings is a 360-unit property located in Smyrna, GA within the Atlanta MSA.  The Property was built in two phases in 1983 and 1985 and consists of 37 two-story and three-story residential buildings on 30+ acres, providing an attractive low-density setting.  The asset features an attractive unit mix of one-bedroom and two-bedroom homes with floorplans averaging 1,039 square feet.  The apartments feature walk-in closets, washer and dryer hookups, and vaulted ceilings in the upper floor homes.

Junction at Vinings benefits from a prime location within both Smyrna and the broader Vinings/Cumberland submarket.  The Property is located within three miles of the center of the Cumberland submarket, home to ample retail offerings, The Battery, and over 17 million SF of office space. Retail offerings in the area include major retailers such as Costco, The Home Depot, and Apple, and a Publix-anchored shopping center is located under 1.5 miles from the property. The Battery is in the midst of $1B of development, creating an attractive live-work-play atmosphere around SunTrust Park with numerous new restaurants and bars. The Property has direct access to I-285, also known as the Perimeter, one mile east. The Perimeter encircles the city of Atlanta, and connects with all major highways in the MSA, including nearby interchanges with Interstate 75 and Route 41, which lead to Marietta and the rest of Cobb County to the north and downtown Atlanta to the south. The Vinings/Cumberland submarket is home to a number of Fortune 500 companies, including Home Depot’s headquarters, located under 1 mile away from the property and the home office for 5,000 employees. Other Fortune 500 companies in the area include Comcast (new regional headquarters), Genuine Parts, and HD Supply (headquarters). Additionally, the Property benefits from Cobb’s County’s strong school system, including the nearby top-rated Teasley Elementary School.

Community Amenities

Anzio

Investment Highlights

Anzio represents TruAmerica’s third investment in the Atlanta MSA and first in Gwinnett County. The Property was acquired at a discount to replacement cost for garden-style projects in suburban Atlanta and benefits from a strategic location in Atlanta’s second largest county. Anzio is just south of the Sugarloaf office submarket, which contains 14 million SF of office space and is home to 38,000 jobs. Additionally, nearby downtown Lawrenceville is home to Gwinnett Medical Center, a network of healthcare facilities with hospitals in Lawrenceville and nearby Duluth. In all, Gwinnett Medical Center employees 4,200 people. Gwinnett County is also home to the headquarters of several Fortune 500 companies, including Asbury Automotive, AGCO Corp., and WestRock (fka as RockTenn). The Property has direct access to the interchange of I-85 and Route 120, two miles west. To the southwest, I-85 leads directly to the center of Atlanta, and along the way has an interchange with I-285, also known as The Perimeter. Meanwhile, Route 120 passes through major employment centers in the wealthy suburbs of Johns Creek and Alpharetta.

TruAmerica plans to renovate the remaining classic homes and make select upgrades to the partially renovated and renovated homes to significantly modernize the interiors and earn strong renovation premiums.

The 448-unit property was built in 1986. All homes include spacious walk-in closets, washer/dryer connections, fireplaces, and a patio or balcony. The property has been well maintained and needs minimal deferred maintenance and exterior repairs, allowing a majority of the capital to be spent on accretive improvements to the apartment interiors. Upgrades to the apartment interiors in the remaining classic homes will include stainless steel appliances, vinyl plank flooring, laminate countertops, new cabinet fronts, and improved lighting fixtures. Additionally, TruAmerica will install washers and dryers in all units.

Property Highlights

TruAmerica also plans to make targeted, accretive improvements to exteriors and amenity spaces. Potential amenity enhancements and upgrades include renovating the fitness center, adding new furnishings at the pool, and upgrading the dog park. Furthermore, painting the exterior and improving the landscaping will help enhance the overall image and curb appeal of the Property.

Community Amenities

Landings at Sweetwater Creek

Investment Highlights

Landings Sweetwater Creek is a 240 unit asset built in 1994. It is located along the I-20 West Corridor in Lithia Springs, GA. The Property is 15 miles west of downtown Atlanta in a bedroom community with short commute times to Downtown and Midtown Atlanta, the Vinings / Cumberland office sub-market, and Hartsfield-Jackson Atlanta International Airport. Sweetwater Creek represents a true value-add opportunity as 239 of the 240 homes need full renovation. Anticipated apartment upgrades include new stainless “faux” steel appliances, new cabinet faces and pulls, hard-surface flooring, adding washers/dryers to 190 units, and tile backsplash. Landings at Sweetwater Creek is TruAmerica’s 4th acquisition in the State of Georgia and 1st in Douglas County.

Property Highlights

Landings Sweetwater Creek features an attractive unit mix comprised of one-bedroom apartments two-bedroom apartments and three-bedroom apartments with floor plans at an average unit size of 1,131 square feet. All of the homes feature 9-foot ceilings, washer/dryer hookups, patio/balcony, and crown molding. The Property also features a broad array of community amenities that include a swimming pool, fitness center, sports court, playground, clubhouse, picnic areas with barbeque grills, and dog park.

Landings at Sweetwater Creek benefits from a strong location off the I-20 West and Route 6 interchange, providing access to urban Atlanta, Hartsfield-Jackson Atlanta International Airport, and the Cumberland / Vinings office submarket. The I-20 West Corridor serves as the key connector between Atlanta and Birmingham, Alabama. The Property itself sits along its namesake, the Sweetwater Creek, a tributary of the Chattahoochee River, providing an idyllic setting in a second ring suburban location. Additionally, Sweetwater Creek State Park is adjacent to the property to the southwest. The park provides a number of hiking trails, picnic areas, and playgrounds.

Community Amenities

Signature at Sugarloaf

Investment Highlights

Signature at Sugarloaf  represents TruAmerica’s fifth investment in the Atlanta MSA and is in Duluth, one of Atlanta’s best performing suburban markets. The property benefits from its location within Gwinnett County, with direct access to the interchange of I-85 and Route 120. I-85 leads directly to the heart of North Buckhead, and along the way has an interchange with I-285, also known as The Perimeter. Signature at Sugarloaf is also located within the Sugarloaf office submarket, which contains 14 million SF of office space and is home to 38,000 jobs. Both the Infinite Energy Forum and Primerica’s headquarters are within walking distance of the property; North American Properties is developing Revel, a $900 million mixed-use project similar to their Avalon development in Alpharetta, a mile away from the property.

TruAmerica plans to renovate the remaining classic homes and make select, accretive upgrades to the partially renovated homes, exteriors, and amenity spaces.

Property Highlights

The 268-unit property was built in 2000. All homes include spacious walk-in closets and washer/dryer connections. The property has been well maintained and has minimal deferred maintenance and exterior repairs, allowing most of the capital to be spent on accretive improvements to the apartment interiors. Upgrades to the apartment interiors in the remaining classic homes will include stainless steel appliances, vinyl flooring, stone countertops with undermount sink, new cabinet fronts and pulls, tile backsplash, upgraded plumbing and lighting fixtures as well as installation of washers and dryers.

TruAmerica also plans to make targeted, accretive improvements to exteriors and amenity spaces. Potential amenity enhancements and upgrades include selectively upgrading the fitness center, upgrading the outdoor grilling area and tot lot, and adding new furnishings at the pool. Furthermore, painting the exterior and improving the landscaping will help enhance the overall image and curb appeal of the Property.

Community Amenities

The Crossings at Holcomb Bridge

Investment Highlights

Crossings at Holcomb Bridge represents TruAmerica’s sixth investment in the Atlanta MSA and first in Roswell, one of Fulton County’s top suburban markets. The property benefits from its ease of access to the GA-400 corridor, connecting residents to 300,000+ jobs including numerous Fortune 1000 headquarters. Employment opportunities span core industries such as technology, healthcare, finance, telecommunications, logistics, and business service. Top employers in the region include Northside Hospital (8,000 employees), UPS (3,100 employees), State Farm Insurance (3,000 employees), McKesson Technology Solutions (2,450 employees), AT&T Inc (2,200 employees), Cox Communications Inc. (2,170 employees), and ADP (2,100 employees). The concentration and diversity of employment opportunities projects uniquely high and stable rent growth in the submarket throughout the hold.

TruAmerica plans to fully renovate the remaining classic homes and those with outdated finish levels renovated by a previous owner while making select, accretive upgrades to the exteriors and amenity spaces.

Property Highlights

The 268-unit property was built in 1984. All homes include spacious walk-in closets and washer/dryer connections. The property has been well maintained, allowing the majority of capital to be invested into accretive improvements to the apartment interiors. Upgrades to the apartment interiors in the remaining classic homes and homes renovated by previous ownership will include stainless steel appliances, vinyl flooring, stone or laminate countertops with undermount sink, new cabinet fronts and pulls, tile backsplash, upgraded plumbing and lighting fixtures as well as installation of washers and dryers.
Potential amenity enhancements and upgrades include selectively upgrading the fitness center and adding new furnishings at the pool. Furthermore, painting the exterior, pressure washing the breezeways, and improving the landscaping will enhance the overall image of the Property.

Community Amenities

• Pet Park
• BBQ & Grilling Station
• Business Center
• Package Lockers
• Fitness Center
• Clubhouse
• Swimming Pool
• Sundeck

Indian Trail Apartments

Investment Highlights

Indian Trail Apartments represents TruAmerica’s seventh investment in the Atlanta MSA and third in Gwinnett County. The property benefits from its ease of access to employment centers in Perimeter Center, “Pill Hill,” Peachtree Corners Town Center, the I-85 Industrial Corridor, the Atlanta Technology Park, and others as well as downtown Duluth, downtown Norcross , and the Sugarloaf office market. The I-85 corridor boasts almost 150M SF of industrial space and provides employment ranging from e-commerce to large regional distribution centers. Indian Trail Apartments has direct access to I-85 via Indian Trail Lilburn Rd NW.

TruAmerica plans to fully renovate the remaining 263 classic homes, add washer/dryer appliances to 382 homes, and make select, accretive upgrades to the exteriors and amenity spaces.

Property Highlights

The 467-unit property was built in two phases in 1987 and 1996. All homes include spacious walk-in closets and washer/dryer connections as well as a patio for ground-floor apartments or enclosed sunroom for homes on higher floors. The property has been well maintained, allowing most of the capital to be invested into accretive improvements to the apartment interiors. Upgrades to the apartment interiors in the remaining classic homes will include stainless steel appliances, vinyl flooring, laminate countertops, new cabinet fronts and pulls, tile backsplash, upgraded plumbing and lighting fixtures as well as installation of washers and dryers.
Potential amenity enhancements and upgrades include renovation of the dog park and adding new furnishings at the pool as well as improving the landscaping around the property.

Community Amenities

The Slate

Investment Highlights

The Slate, formerly Sandtown Vista represents TruAmerica’s eighth investment in the Atlanta MSA and third in Fulton County. The property is in the Fulton Industrial Corridor in southwest Atlanta, GA, and benefits from a strong location off the Route 6 (Camp Creek Parkway) and Route 70 (Fulton Industrial Boulevard) interchange, providing access to urban Atlanta, Hartsfield-Jackson Atlanta International Airport, and the Cumberland / Vinings office submarket. The Fulton Industrial Corridor serves as one of the key industrial markets in the Southeast due to its 52M SF of industrial space, 30K+ jobs, proximity to Hartsfield Jackson Airport, and access to interstate highways.

TruAmerica plans to fully renovate all 350 classic homes, elevating the finish levels by adding washer/dryer appliances, vinyl plank flooring, painting, updating cabinetry, and adding granite countertops with an undermount sink to the 2- and 3-bedroom units. The 1-bedroom rooms will receive select upgrades, including washer/dryer appliances and vinyl plank flooring.

Property Highlights

The 350-unit property was built in 2009. All homes include washer/dryer connections as well as a patio for ground-floor apartments or balconies for homes on higher floors. The property has been well maintained, allowing most of the capital to be invested into accretive improvements to the apartment interiors. Minimal upgrades had been done by prior ownership to the apartment interiors allowing TruAmerica to renovate all 350 units. Potential amenity enhancements and upgrades include full renovation of clubhouse and fitness center, adding dog park equipment, and adding new furnishings at the pool as well as improving the landscaping around the property.

Community Amenities

Sweetwater Creek

Investment Highlights

Located along the I-20 West Corridor in Lithia Springs, GA, Sweetwater Creek is 15 miles west of downtown Atlanta in a bedroom community with short commute times to Downtown and Midtown Atlanta, the Vinings/Cumberland office sub-market, and Hartsfield-Jackson Atlanta International Airport. The property sits adjacent to Sweetwater Creek State Park, which has over 9 miles of hiking trails, a lake with boat rentals, and camping facilities.Sweetwater Creek lies just two minutes from the Thornton Road Industrial Corridor, home to Amazon warehouses and Google data centers. “Data Hill”, within Douglas County, is home to 2M SF of data center space, with another 3.5M SF planned, and has seen $3B in total investments since 2016. Landings at Sweetwater Creek is TruAmerica’s 9th acquisition in the Georgia and 2nd in Douglas County.

Property Highlights

The 270-unit property was built in 2001 and features one-, two, and three-bedroom floorplans. All floorplans at the property have porches or balconies as well as walk-in closets.

All the apartment homes at Sweetwater Creek were left in classic condition by prior ownership. TruAmerica plans to renovate all 270 of the apartment homes with anticipated upgrades including vinyl flooring, quartz countertops with undermount sinks, upgraded lighting/plumbing fixtures, stainless steel appliances, and upgraded white cabinetry. Furthermore, TruAmerica will install washers and dryers all 270 homes. TruAmerica also plans to conduct a full renovation of the clubhouse and fitness center, as well as make other upgrades to the amenities and exterior.

Community Amenities