TruAmerica Multifamily has expanded its portfolio in Southern California with the recent acquisition of Nineteen01, a 264-unit apartment complex located at 1901 E. 1st St. in Santa Ana for $102.9 million. The Class A property, developed in partnership with PCCP, LLC at a significant discount to replacement cost, was built in 2016.
According to Noah Hochman, Co-CIO and head of capital markets for TruAmerica: “Nineteen01 presents numerous investment opportunities due to its prime location near major freeways that provide convenient access throughout Orange County.”
Robert E. Hart, founder and CEO of TruAmerica added: “The city of Santa Ana is currently undergoing revitalization efforts including the development of the nearby Santa Ana Regional Transportation Center and plans for a streetcar system and state-of-the-art soccer stadium. We believe this property aligns perfectly with the city’s future plans.”
Shane Shafer from NorthMarq facilitated the transaction as broker.
The article titled “TruAmerica Acquires $103M Apartment Complex” was originally published on Connect CRE.
