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TruAmerica Multifamily Partners with Allstate

LOS ANGELES—The partnership launches a new investment platform and acquires a 1,500 unit multifamily portfolio from Berkshire Property Advisors for $229 million.

By Kelsi Maree Borland | Updated on June 27, 2014

LOS ANGELES—TruAmerica Multifamily has partnered with Allstate Life Insurance to acquire a three-property, multi-state portfolio from Berkshire Property Advisors for $229 million. TruAmerica Multifamily is a real estate investment platform launched by Robert E. Hart and the Guardian Life Insurance Co. of America. This acquisition marks the creation of a new investment platform with the three companies.

The multifamily portfolio purchased has a total of 1,514 units, and includes the Berkshires at Lowery in Denver, CO, the Ponderosa Villas in Aurora, CO, and Carriages at Fairwood Downs in Renton, WA. The investment platform plans to upgrade each of the properties.

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