TruAmerica Buys 520 Units in Phoenix

The multifamily investor buys the 520-unit Covington Park in Phoenix for $77 million.

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.

Recommended Stories