Maribelle is Latest Get in Red-Hot Market

SANTA ROSA, CA–The largest apartment community in the city, Maribelle Apartment Homes, has sold to TruAmerica Multifamily in partnership with Intercontinental Real Estate for $59 million. This is also the partnership’s largest acquisition in the Bay Area. The transaction represents TruAmerica’s fifth joint venture encompassing almost 1,300 units with Intercontinental.

Greg Campbell, senior managing director of acquisitions for TruAmerica tells GlobeSt.com: “We found the opportunity to acquire the largest multifamily asset in the red-hot Santa Rosa submarket to be too attractive to pass up. The compelling location near the lively downtown shopping and dining venues, coupled with significant value-add upside through a targeted renovation, made the acquisition opportunity a no-brainer.”