TruAmerica, PCCP JV acquires apartment complex in Santa Ana, Calif., for $103m

TruAmerica Multifamily announced the acquisition of Nineteen01, a 264-unit apartment asset in Santa Ana, Calif., for $102.9 million. The class A property, which was acquired in partnership with PCCP, at a significant discount to replacement cost, includes a three- and five-story wrap building that was developed in 2016.

NorthMarq brokered the transaction.

Located at 1901 E. First St. in Santa Ana, Nineteen01 features include one- to three-bedroom apartments, with open-concept floor plans and an average unit size of 1,033 square feet. All the homes feature fully appointed kitchens, full-size washers and dryers, private patios or balconies, walk-in closets and ceiling fans. Nineteen01 also features amenities including a rooftop resort-style pool area with spa, a fully equipped 24/7 accessed fitness center, business center, cybercafé, private conference room, dog park, game room, package system, communal fire pit, outdoor grilling areas and community green spaces.