TruAmerica Multifamily, one of the nation’s leading multifamily investment firms, announced an expansion of its flagship team and business lines, along with the significant launch of a new Affordable Housing vertical.
“These new investment strategies will complement TruAmerica’s extensive track record in the value-add sector and are a natural evolution of the platform our team has established,” said Robert Hart, President & CEO of TruAmerica. “Our value-add Multifamily investment strategy remains our core strategy, and the numerous key hires and industry veterans we’re bringing on board will continue to strengthen these existing business lines. TruAmerica’s dedication to scaling its platform not only addresses diverse market demands, but also amplifies our ability to build better communities.”
Now with $15.5B in multifamily assets under management, the firm continues to grow its team with strategic hires to lead the company’s growth plans. Ted Egner joined TruAmerica to lead acquisitions in the Mid-Atlantic and Northeast markets, with further expansion planned for TruAmerica’s East Coast Acquisitions and Asset Management teams. To lead its affordable housing strategy, TruAmerica has welcomed seasoned industry professional, Ben Finley, to build out the group. In addition, new executive Stuart Cramer, who previously served in an advisory capacity, has joined TruAmerica full time to lead the next phase of the platform’s Build-for-Rent (BFR) efforts. Each brings decades of experience and a proven track record, ensuring these verticals will complement and enhance TruAmerica’s existing multifamily platform.
Ted Egner’s role will focus on acquisitions from the Carolinas through the Mid-Atlantic and Northeast, regions where TruAmerica Multifamily already manages nearly 4,000 units. With his leadership, the firm plans to grow its footprint across the entire East Coast. Egner’s addition is part of a larger initiative to expand the East Coast Acquisitions and Asset Management teams, positioning TruAmerica to capitalize on emerging market opportunities in these high-growth areas.
“Ted’s deep knowledge of the East Coast markets and his ability to identify high-potential acquisitions will be instrumental in expanding TruAmerica’s footprint in these regions that we anticipate will benefit from favorable tailwinds overt the near term,” said Matt Ferrari, Co-Chief Investment Officer, Head of Acquisitions.
Ted Egner brings over 15 years of experience in the multifamily real estate industry, with a distinguished career at Lincoln Property Company and Silverwood Companies. Prior to living in Washington, DC, he spent five years in the financial sector with Cantor Fitzgerald and Citigroup in New York City. Ted also is the co-founder of Building Bridges Worldwide, a non-profit organization overseeing the construction of community infrastructure in developing nations. A graduate of Holy Cross in Worcester, MA, he also earned an MBA from The University of Texas.
Ben Finley, Managing Director of Affordable Housing, brings over 25 years of experience in multifamily real estate. Finley previously served as Managing Director at April Housing, where he led capital transactions for Blackstone’s affordable housing portfolio. His extensive career includes leadership roles at Avanath Capital Management, where he closed more than 80 transactions totaling $1.8 billion, and Richman Community Capital. A graduate of the University of Notre Dame, Finley has dedicated much of his career to the preservation of Affordable Housing nationwide.
The Affordable Housing vertical will take shape over the coming months with a significant platform acquisition of an existing low-income housing tax credit (LIHTC) multifamily portfolio. The addition of Ben Finley as Managing Director will build the foundation for the implementation and continued scaling of TruAmerica’s Affordable Housing portfolio, including asset management, fundraising, and growing the team.
“Ben’s comprehensive background in the preservation of affordable housing and his deep-rooted industry relationships will ensure that TruAmerica continues to make meaningful contributions to housing affordability. His leadership will be invaluable as we establish and scale this important vertical,” said Noah Hochman, Co-Chief Investment Officer, Head of Capital Markets.
The Build-For-Rent (BFR) vertical, initially launched in 2022, will progress into its next growth stage, which will focus on targeted investment strategies in high-demand locations throughout California leveraging Stuart Cramer’s extensive experience and industry connections. Initially brought on in an advisory role, Stuart Cramer has now officially joined TruAmerica full-time. With over four decades in real estate, Cramer’s leadership will accelerate the vertical’s growth, starting with a new townhome development in the Los Angeles metro area.
Stuart Cramer joins TruAmerica Multifamily with over 40 years of real estate experience, including senior leadership positions at Kennedy Wilson and Lowe Enterprises (now known as Broadshore Capital). At Kennedy Wilson, Cramer served as President of Residential Investments, overseeing acquisitions, development, entitlements, and asset management across the Western U.S. His expertise in residential and commercial development will guide TruAmerica’s BFR strategy as the company scales this vertical. Cramer earned his bachelor’s degree from the University of Southern California.
“The exceptional expertise and leadership of Ted, Ben and Stuart positions us for success as we broaden our capabilities,” adds Hart. “Their wealth of experience ensures that TruAmerica will continue scaling strategically while meeting the evolving needs of the market.”
