Multifamily

OCEANSIDE, CALIF. – TruAmerica Multifamily has acquired the 221-unit Piazza D’Oro apartment complex in Oceanside for $81 million. The community is located at 3402 Piazza De Oro Way. It also includes 17,000 square feet of office space. This is TruAmerica’s first acquisition. The multifamily investment firm is led by Robert E. Hart and the Guardian Life Insurance Company of America. The seller, Piazza D’Oro, LLC, an affiliate of the ConAm Group, was represented by Kevin Mulhern, Dixie Hall, Rachel Parsons and Tyler Anderson of the CBRE Multi-Housing Investment Properties group. Financing was arranged by Bill Chiles and Scott Peterson of the CBRE Debt & Equity Finance Group.

NEWPORT BEACH, CALIF. – A five-property multifamily portfolio based in Orange County has received $90.4 million in refinancing. The assets were located in La Habra, Fullerton, Anaheim, Costa Mesa and Buena Park. The local owner/operator built four of the five properties in the 1970s. Each boasts about a 95 percent occupancy rate. The properties received fully amortizing loans with fixed rates in the mid-4 percent range. The transaction was negotiated by Seth K. Grossman of Meridian Capital Group in partnership with Greg Reed and Kristen Croxton of Beech Street Capital. The loans were placed with a life insurance company lender.

NEWPORT BEACH, CALIF. – A five-property multifamily portfolio based in Orange County has received $90.4 million in refinancing. The assets were located in La Habra, Fullerton, Anaheim, Costa Mesa and Buena Park. The local owner/operator built four of the five properties in the 1970s. Each boasts about a 95 percent occupancy rate. The properties received fully amortizing loans with fixed rates in the mid-4 percent range. The transaction was negotiated by Seth K. Grossman of Meridian Capital Group in partnership with Greg Reed and Kristen Croxton of Beech Street Capital. The loans were placed with a life insurance company lender.