Bob Hart

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.

“We are focused on several key high-growth West Coast multifamily markets that support our strategy, including Orange County, San Diego, Phoenix and Las Vegas as well as the states of Florida and Georgia,” Robert E. Hart, founder and CEO of TruAmerica Multifamily, tells GlobeSt.com. “These markets produced 20 new properties for us totaling 7,000 units. Our team is centered around building our substantial market share in these markets, which will allow us to take advantage of economies of scale.”

In 2018, in general was a robust year for multifamily investment. TruAmerica grew its transaction volumes year-over-year. “In 2017 we closed approximately $700million  in transactions. In  2018 we closed $957 million so a very robust year for TruAmerica,” says Hart. He adds that it will continue to grow its portfolio this year and increase its transaction volume. “In 2018 we sold nearly $400 million in assets,” he says. “This year we expect to remain a net buyer as we build our portfolio, while reducing our exposure to key assets that have achieved their five-year business plans.”