TruAmerica Enters East Coast with $187M Portfolio Acquisition

Southfield in Nottingham, MD

BALTIMORE, MD—TruAmerica Multifamily, an apartment investment firm based in Los Angeles with a mostly national portfolio, has added Maryland to the list of states in which it is active. It has acquired a three-property, 1,004-unit apartment portfolio based in suburban Baltimore for $187 million. Perhaps more significantly, the off-market deal represents TruAmerica’s first deal in the East Coast — with more to follow, according to Greg Campbell, senior managing director of Acquisitions for the company.

Public records show that San Francisco-based Klingbeil Capital Management was the owner of the three properties that traded: the 158-unit Bayshore Landing in Annapolis, the 634-unit Sherwood Crossing in Elkridge, and the 212-unit Southfield in Nottingham.