TruAmerica Reenters Northern Virginia with $72M Acquisition
Deal News | Jun 03, 2025 | TruAmerica Multifamily LLC
TruAmerica Multifamily LLC, a prominent multifamily investment firm, has reentered the prime submarket of Northern Virginia with the acquisition of Chase Heritage Apartments for $72 million. The garden-style community, located in Loudoun County, is comprised of 236 units with a mix of one-, two-, and three-bedroom apartments aimed at young professionals and families. The Northern Virginia submarket is notable for its employment and quality of life, and TruAmerica's plan includes a significant capital improvement program for the property, targeting renovated interiors and enhanced amenities. This acquisition underscores TruAmerica's strategy to extend its footprint in high-growth markets and further its commitment to enhancing community living. Founded in 2013, the Los Angeles-based firm has a robust national portfolio, ranking No. 26 on the National Multifamily Housing Council's list of top apartment owners in 2025.
Sectors
- Real Estate Investment
- Property Development
Geography
- United States – The acquisition is within the United States, specifically in the Northern Virginia region, a key market in the D.C. metropolitan area.
- Northern Virginia – The specific location of the Chase Heritage Apartments, highlighting its strategic importance in terms of market and demographic appeal.
Industry
- Real Estate Investment – TruAmerica Multifamily operates within the real estate investment sector, particularly focusing on the acquisition and enhancement of multifamily properties.
- Property Development – The article discusses capital improvements and enhancements to the acquired property, indicating active engagement in property development.
Financials
- 72 million – The purchase price for the Chase Heritage Apartments by TruAmerica Multifamily.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TruAmerica Multifamily LLC | Acquirer | Company | A nationally recognized multifamily investment firm based in Los Angeles, focusing on the acquisition and management of multifamily properties. |
| Chase Heritage Apartments | Target | Company | The property in Northern Virginia purchased by TruAmerica, comprising 236 units of garden-style apartments. |
| McDowell Properties | Seller | Company | The previous owner of the Chase Heritage Apartments. |