Transactions - JULY 15, 2014

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TruAmerica buys four apartment complexes for $254.8m

by Andrea Waitrovich

TruAmerica Multifamily and its joint venture partners have purchased four apartments for approximately $254.8 million. There were two sellers for the four acquisitions.

The highest-priced asset is the 710-unit Berkshire at Lowry in Denver, which sold for $119 million. The seller was Berkshire Property Advisors. TruAmerica made the acquisition with Guardian Life Insurance Co. and Allstate Life Insurance.

The same joint venture purchased two more properties sold by Berkshire: the 400-unit Carriages at Fairwood Downs in Renton, Wash., and the Ponderosa Villas in Denver, selling for $61.8 million and $48 million, respectively.

The fourth recently purchased asset was the 180-unit Summit at Paradise Valley in Fairfield, Calif., which was acquired for $26 million by TruAmer

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