TruAmerica Multifamily, a national, vertically integrated multifamily investment firm, has acquired two apartment communities — Bahama Bay in the Orlando metro and Arbor Ridge in the Baltimore metro – where property enhancements and professional asset management will create meaningful improvements for residents.
Both transactions, which closed at the end of September, reflect TruAmerica’s ability to source distinctive opportunities where the platform’s scale and expertise can immediately elevate property operations, enhance the resident experience, and generate long-term value. Targeted renovations will also be executed by TruAmerica’s in-house construction management teams to create more vibrant, resident-focused communities.
“These acquisitions showcase our ability to unlock value through comprehensive asset management,” said Bob Hart, Founder and CEO of TruAmerica. “We see tremendous opportunity to enhance the resident experience, improve community operations, and deliver lasting value.”
Bahama Bay
Built in 2008, Bahama Bay is a 162-unit, three-story garden-style community in Davenport, Florida, within the Orlando MSA. With spacious open floor plans and desirable community amenities, the property offers a strong foundation for TruAmerica to implement institutional quality asset & property management, streamline operations, and enhance service delivery for residents.
The property was acquired directly from the lender, reflecting TruAmerica’s ability to leverage strong relationships and disciplined sourcing to access compelling investment opportunities. Shelton Granade, Luke Wickham, and Justin Basquil of IPA facilitated the transaction.
Arbor Ridge
Located in Owings Mills, Maryland — within the Baltimore MSA — Arbor Ridge Apartments offers residents proximity to major employers, top-rated schools, convenient transportation, and established retail corridors. TruAmerica’s strategy will focus on operational enhancements and reinvestment that prioritize residents’ needs – from interior upgrades and amenity improvements to more efficient and responsive community management.
CBRE facilitated the transaction, with Bill Roohan and Brian Margerum leading investment sales, while Ryan Greer and Maxi Leachman arranged the permanent financing.
“Bahama Bay and Arbor Ridge are prime examples of communities where our resident-first approach and institutional capabilities align,” said Sunita Jofferion, Managing Director of Asset Management at TruAmerica. “By building better communities, we not only improve daily life for our residents, but we also preserve attainable housing in markets where it’s needed most.”
