TruAmerica Multifamily has acquired the 520-unit Covington Park apartment community in Phoenix for $77.3 million. The purchase brings TruAmerica's Phoenix multifamily portfolio to 2,000 units.

To purchase the property, TruAmerica secured 10-year floating rate financing through Freddie Mac's Multifamily Green Advantage platform arranged by CBRE Capital Markets vice chairman Brian Eisendrath.

Tyler Anderson, Asher Gunter, Sean Cunningham and Matt Pesch from CBRE's Arizona office marketed the properties on behalf of the seller.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Phoenix
Multifamily
Capital Markets