SEATTLE—TruAmerica Multifamily continues to grow its Pacific Northwest portfolio with the acquisition of two apartment communities, one in the Seattle area, and the other near Portland OR in an off-market transaction valued at $48.75 million.
The seller was San Francisco-based FPA Multifamily. TruAmerica acquired the 92-unit Township Apartment Homes in Canby, OR and the 202-unit Windsor Apartment Homes in Renton, WA, in partnership with a syndicate of domestic and international institutional investors including Allstate and The Guardian Life Insurance Company of America.
In the past three months, TruAmerica has invested more than $230 million in the Pacific Northwest with the acquisition of 1,598 units in Seattle and Portland. Most recently the Los Angeles-based real estate investment firm closed on a five-property, 918-unit portfolio acquisition that included apartment home communities in Kent, WA, and the Portland, suburban communities of Tualatin and Wilsonville. TruAmerica manages a Pacific Northwest portfolio of over 3,700 units with plans to acquire an additional 2,200 units by the end of the year.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
