TruAmerica Continues Apartment Shopping Spree
TruAmerica Multifamily and Intercontinental Real Estate just closed on the biggest apartment community in Santa Rosa: the 287-unit Maribelle Apartment Homes for $59M. It's TruAmerica’s fifth JV with Intercontinental, totaling almost 1,300 units. Here's TruAmerica CEO Bob Hart, who we snapped at our Annual Multifamily Conference last week. As of June, TruAmerica ranked as the No. 6 apartment buyer in the US and No. 11 in the world based on transaction volume in the last year, according to Real Capital Analytics.
Built in 1987, the site sold by Fairfield Residential features a mix of one- and two-bedroom apartment homes on a low-density 13.4-acre site and includes a clubhouse fitness center, resort-style pool, dog park and picnic areas with barbecues. It's near the soon-to-be-completed Santa Rosa Station of the Sonoma Marin Rail Transit Service.