TruAmerica Pays $120M for Perimeter Center Rental Community
TruAmerica Multifamily acquired Bricks at Perimeter Center for $120 million. Clark Ventures was the seller of the 446-unit, garden-style apartment community in Atlanta’s Perimeter Center submarket. Clark paid $69.5 million for the property in 2016.
TruAmerica will revamp nearly all of the rooms in the complex, which was built in 2007. The company plans to incorporate a premium finish package that includes quartz countertops, stainless steel appliances, new flooring, and updated cabinetry and hardware.
TruAmerica’s Wes LaBar added, “Bricks at Perimeter Center represents the type of opportunity we continue to seek: high-quality construction in a supply-constrained submarket, acquired at a meaningful discount to replacement cost and with a clear opportunity to create additional value.
The acquisition further expands TruAmerica’s Atlanta footprint to 3,374 units and helps the firm surpass $1 billion in total acquisition volume in 2026.
Kevin Geiger of CBRE brokered the deal.
Other News
BTI, Bridge Score $109M for Hollywood’s Bread Building
BTI Partners and Bridge Investment Group closed on $109 million in financing for the Bread Building, a multifamily property located in downtown Hollywood, Florida. Cushman & Wakefield arranged, and Greystone provided the Freddie Mac loan for the transaction on behalf of borrowers, BTI Partners and Bridge Investment Group. Cushman & Wakefield’s Equity, Debt & Structured Finance...
Learn more
Synergy Hosts Official Opening for Massachusetts’ Largest Office-to-Resi Conversion
Synergy held the official opening of Altitude Worcester, the largest office-to-residential conversion in Massachusetts, with a ribbon cutting ceremony with Juana Matias, the Secretary of the Massachusetts Executive Office of Housing and Livable Communities , and the City of Worcester. The event also marked the completion of 22 Elm St., the adjacent affordable homeownership community Synergy...
Learn more
MBTA Issues RFQ for Redevelopment of Lynn Commuter Parking Garage
The Massachusetts Bay Transportation Authority (MBTA) has issued a request for qualifications from would-be redevelopers of its downtown Lynn, MA commuter parking garage. It’s the first of a two-step process, to be followed by a request for proposals. The five-story garage opened in 1992 and has been partially closed since 2022 over safety concerns, ItemLive...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout