TruAmerica Multifamily launches build-to-rent development division

TruAmerica Multifamily has launched a build-for-rent (BFR) development division to build townhome and single-family rental communities in suburban submarkets that are synergistic with its existing vertically integrated multifamily platform, announced CEO and founder Robert Hart. Mitch Rotta has joined the firm as senior managing director to lead the new initiative.

The initial rollout of TruAmerica’s in-house BFR platform will be in high-growth suburban markets in the Southwest, Southeast and Texas, which represents approximately 60 percent of the firm’s $16.1 billion multifamily portfolio.

“The changing demographics of the U.S., the ongoing affordability challenges and credit qualification standards of home buying for Americans has led to a steep decline in home ownership rates, but the desire to live in a home remains high,” said Hart. “BFR is a natural extension of our workforce housing platform because it complements the same demographics that make up our