Within two weeks of acquiring the 456-unit Waterleaf Apartments in Vista for $86.2 million, a Jan. 14 Deal of the Week, entities led by TruAmerica Multifamily venture acquired a 14-apartment, 2,666-unit portfolio of Southern California apartments for $482.25 million.
The portfolio included The Deal of the Week; three San Diego County properties with 630 units for $109.25 million. Two properties are in El Cajon and a third is in Vista.
Los Angeles-based TruAmerica teamed with Allstate (NYSE: ALL) on the portfolio deal.
The sellers were affiliated with Newport Beach-based JH Real Estate Partners.
Both the buyers and sellers were represented by Jim Fisher and Mike Smith, principals of Lee & Associates who work out of the firm's North Los Angeles/Ventura offices.
The properties here were the 338-unit Forest Park Apartments at 1210 Petree St., El Cajon, for $56 million (photo); the 154-unit Hidden Hills apartment at 311 Weston Circle in Vista for $27 million; and the 138-unit Colonnade at 2950 Fletcher Parkway, El Cajon for $26.25 million.