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**TruAmerica Acquires 180-Unit Apartment Community in Chandler for $40.1M**
TruAmerica Multifamily has acquired Park Tower Apartments, a 180-unit apartment complex in Chandler, Arizona, for $40.1 million. The purchase was made on behalf of Univest. The deal was brokered by Newmark’s Chris Canter, Brad Goff, and Brett Polachek, while Mitch Clarfield arranged the financing through Fannie Mae.
Originally built in 1986, Park Tower Apartments consists of newly renovated one- and two-bedroom units. Each apartment features spacious private patios, catering to modern renter preferences for upgraded living spaces.
The transaction comes amid a broader resurgence in the national multifamily sector. According to Newmark’s Q2 2025 U.S. Multifamily Capital Markets Report, multifamily transaction volume reached $45.2 billion — a 12% increase from the first quarter of 2025. The Southwest region experienced especially strong activity, with cap rates for stabilized assets averaging 5.8%, a 30-basis-point decline from the previous year.
Improved debt market conditions, including average leverage levels of 65% loan-to-value and competitive financing options from Fannie Mae, Freddie Mac, and life insurance companies, have bolstered investor interest. Class B properties with recent renovations—such as Park Tower Apartments—are attracting premium pricing due to heightened demand from renters seeking quality housing in high-growth secondary markets.
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