Grand at Westside Acquired by TruAmerica in Strategic Expansion
Deal News | Apr 09, 2025 | TruAmerica Multifamily LLC
TruAmerica Multifamily has made a strategic acquisition of the Grand at Westside Apartments, a 336-unit garden-style rental community located in Kissimmee, Florida. This latest addition represents TruAmerica's 19th property in the Orlando metropolitan area, contributing to the firm's portfolio of 7,000 apartments in the region. The community, which comprises 14 three-story buildings and expansive amenities, was built in 2015 and offers various floor plans. As part of this acquisition, TruAmerica assumed an existing Fannie Mae loan and plans to implement comprehensive improvements across the property. The enhancements will include a tech package upgrade for all units, replacement of bedroom carpets with plank flooring, and updates to communal areas such as the pool and amenity spaces. CBRE represented the seller in this transaction, with key figures like Jubeen Vaghefi overseeing the deal.
Sectors
- Real Estate
- Investment Management
Geography
- United States – The acquisition took place in Kissimmee, Florida, indicating the geographic relevance of the United States.
- Orlando Metropolitan Area – The property acquisition is part of TruAmerica's strategy to expand its footprint in the Orlando metropolitan area.
Industry
- Real Estate – The acquisition of a rental property by TruAmerica Multifamily falls under the real estate sector, specifically in the rental and property management subsectors.
- Investment Management – TruAmerica's acquisition of this property is part of their investment strategy, indicating activities in the investment management industry.
Financials
- Not Disclosed – The specific financial details of the acquisition, such as purchase price, were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TruAmerica Multifamily LLC | Buyer | Company | A private real estate investment firm focusing on multifamily residential properties. |
| Grand at Westside Apartments | Target Company | Company | A 336-unit, garden-style apartment community located in Kissimmee, Florida. |
| CBRE | Legal Advisor | Company | A commercial real estate services and investment firm that represented the seller in the transaction. |
| Jubeen Vaghefi | Legal Advisor | Person | One of the key figures from CBRE involved in representing the seller. |