TruAmerica Multifamily, a national, institutionally-focused multifamily investment firm, has announced the acquisition of Dominion Park Apartments, a 280-unit garden-style community located in the rapidly growing Northwest submarket of San Antonio, Texas.
“San Antonio boasts strong in-migration trends, combined with steady job growth and a favorable cost of living,” said Matt Ferrari, Head of Acquisitions and co-CIO of Los Angeles-based TruAmerica. “Dominion Park is positioned to benefit from these resilient rental fundamentals and high growth environment.”
Built in 2002, Dominion Park Apartments features a mix of one-, two-, and three-bedroom units averaging 866 square feet. The property sits across from USAA’s global headquarters and within proximity to several other employment centers including the South Texas Medical Center, Valero, and UT Health. The submarket has experienced 25% rent growth over the past three years and maintains a healthy 90% occupancy rate.
Approximately 96 units have undergone prior renovations, providing a solid foundation for TruAmerica’s renovation and operational enhancement strategy. The firm plans to renovate the remaining units and standardize all interiors to a consistent, high-quality finish level. TruAmerica also intends to implement targeted improvements to operate the property more efficiently.
“Dominion Park offers the opportunity to add value through thoughtful capital and operational improvements that build better communities,” said Ammanuel Metta, Managing Director of Acquisitions at TruAmerica. “We are excited to expand our footprint in San Antonio, which continues to demonstrate solid fundamentals that support long-term rental demand.”
The Dominion Park acquisition accelerates TruAmerica’s disciplined investment focus on high-quality, attainable housing in growth markets where new construction remains limited due to economic and regulatory constraints.
The Northmarq investment sales and capital markets debt teams assisted with the transaction. Team members included Moses Siller, Bryan Vancura, Darby Lopez, Brandon Harrington and Tyler Woodard.
