July 8, 2019
TruAmerica Multifamily and RSE Capital Partners have acquired a 454-unit multifamily portfolio in Tampa for $63.7 million as part of a joint venture. The acquisition is the first joint venture between TruAmerica and Washington D.C.-based RSE Capital Partners, and increases TruAmerica’s Florida portfolio to nearly 5,000 units.
The properties included in the sale are Twin Lakes and Runway Bay, two 1980s garden-style multifamily communities located along U.S. Highway 19. Both communities feature a mix of one and two-bedroom floor plans. TruAmerica and RSE have announced plans to institute significant capital improvements across the portfolio.
Patrick Dufour and Ryan Crowley of NKF represented the seller, who was undisclosed, in the transaction.
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