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TruAmerica acquires Pacific Shores, a 264-unit multifamily asset here, for $90.5 million and plans a multi-million-dollar capital-improvement plan for the property, keeping rents affordable for working families.

Pacific Shores Pacific Shores fits TruAmerica’s investment profile, which focuses on well-located class-B multifamily assets that can benefit from strategic renovation.

HUNTINGTON BEACH, CA—TruAmerica Multifamily has acquired Pacific Shores, a 264-unit multifamily asset here, for $90.5 million from UDR Inc. The buyer is planning a multi-million-dollar capital-improvement plan for the property, keeping rents affordable for working families.

GlobeSt.com has learned that Pacific Shores is TruAmerica’s first acquisition in Huntington Beach and it’s second in Orange County. The firm also owns Skye in Laguna Niguel.

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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