TruAmerica Spends $500M in Secondary Target Markets This Year

TruAmerica Multifamily has acquired two new properties in Atlanta and Las Vegas totaling 608 units. The investor purchased the two properties in a joint venture deal with one of its institutional partners for $96.8 million. This transaction includes the 368-unit Vintage Pointe in Las Vegas and the 240-unit Sweetwater Creek in the Atlanta suburb of Lithia Springs.

Atlanta and Las Vegas have been among TruAmerica’s target markets, along with Colorado and Florida. This year, it has acquired more than $500 million in multifamily assets in these four markets.

With its acquisition activity this year, TruAmerica now owns 4,000 units in Nevada and 1,400 units in Georgia.