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TruAmerica Multifamily Expands Portfolio with Acquisition of Arbor Ridge Apartments in Baltimore Metro
TruAmerica Multifamily has announced the acquisition of two apartment communities, including Arbor Ridge Apartments, a 348-unit multifamily property located in Owings Mills, Maryland, part of the Baltimore metropolitan area.
“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.”
Built in 1999, Arbor Ridge Apartments will undergo a series of improvements under TruAmerica’s management strategy. Planned initiatives include operational enhancements and reinvestment focused on resident-centric upgrades, such as interior renovations and improved community amenities.
CBRE facilitated the Arbor Ridge transaction, with Bill Roohan and Brian Margerum leading investment sales efforts. Ryan Greer and Maxi Leachman arranged the permanent financing for the acquisition.
In addition to Arbor Ridge, TruAmerica also acquired Bahama Bay, a 162-unit, three-story garden-style community in Florida. This transaction was facilitated by Shelton Granade, Luke Wickham, and Justin Basquil of Institutional Property Advisors (IPA).
With these strategic acquisitions, TruAmerica continues to grow its national footprint and reinforce its commitment to value-add investment strategies in high-demand markets.
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