Noah E. Hochman

TruAmerica Multifamily—a major value-add investor—is being more selective in its acquisition strategy this year, and it is focusing on quality assets that will perform better in down cycles. In addition, the firm is placing longer-term debt on new acquisitions. Its recent two multifamily acquisitions in Phoenix and Las Vegas both have seven-year debt, rather than the typical three-to-five year financing in the firm has placed on earlier transactions. For these properties, the firm is anticipating a longer hold with of four to seven years.