TruAmerica Multifamily has promoted Amir Eshkol to the newly created position of Chief Construction Officer, announced CEO Robert Hart.   

Since joining the firm in October of 2013 as the firm’s first construction project manager, Amir now manages a team of 14 professionals overseeing all construction and capital improvement projects across TruAmerica’s 60,000-unit national portfolio.  Over the course of his tenure at TruAmerica, Amir’s innovative processes have resulted in controlling costs, and creating value add construction solutions on more than $1.1 billion in complex rehab projects. 

“Amir has added tremendous value to TruAmerica’s proven approach of maintaining exacting standards and practices for asset and construction management,” said Hart.   “His incredible work ethic, can-do attitude and high level of professionalism sets the pace for the qualities we hold in high esteem at our firm.” 

Amir’s career spans more than 30 years of construction and development experience, where he has focused  on multifamily capital improvements for such firms as Kennedy Wilson Multifamily, Casden Properties and Goldrich and Kest Industries LLC. 

Amir is a graduate of the highly regarded Technion – Israel Institute of Technology where he obtained a Bachelor of Science in Structural Engineering and Construction Management. 

TruAmerica Multifamily(http://www.truamerica.com) is a vertically integrated, value-add multifamily investment firm based in Los Angeles. Since its founding in 2013 by Robert Hart, TruAmerica has been one of the country's most active multifamily investors and currently manages a portfolio of approximately 60,000 units across prime locations throughout Arizona, California, Colorado, Florida, Georgia, Massachusetts, Maryland, North Carolina, Nevada, Oregon, Tennessee, Texas, Utah, Ohio, Idaho, New Mexico and Washington.

TruAmerica Multifamily has promoted Amir Eshkol to the newly created position of Chief Construction Officer, announced CEO Robert Hart.   

Since joining the firm in October of 2013 as the firm’s first construction project manager, Amir now manages a team of 14 professionals overseeing all construction and capital improvement projects across TruAmerica’s 60,000-unit national portfolio.  Over the course of his tenure at TruAmerica, Amir’s innovative processes have resulted in controlling costs, and creating value add construction solutions on more than $1.1 billion in complex rehab projects. 

“Amir has added tremendous value to TruAmerica’s proven approach of maintaining exacting standards and practices for asset and construction management,” said Hart.   “His incredible work ethic, can-do attitude and high level of professionalism sets the pace for the qualities we hold in high esteem at our firm.” 

Amir’s career spans more than 30 years of construction and development experience, where he has focused  on multifamily capital improvements for such firms as Kennedy Wilson Multifamily, Casden Properties and Goldrich and Kest Industries LLC. 

Amir is a graduate of the highly regarded Technion – Israel Institute of Technology where he obtained a Bachelor of Science in Structural Engineering and Construction Management. 

TruAmerica Multifamily(http://www.truamerica.com) is a vertically integrated, value-add multifamily investment firm based in Los Angeles. Since its founding in 2013 by Robert Hart, TruAmerica has been one of the country's most active multifamily investors and currently manages a portfolio of approximately 60,000 units across prime locations throughout Arizona, California, Colorado, Florida, Georgia, Massachusetts, Maryland, North Carolina, Nevada, Oregon, Tennessee, Texas, Utah, Ohio, Idaho, New Mexico and Washington.

News From The Association of Fundraising Professionals

TruAmerica Multifamily Founder and CEO Robert “Bob” Hart has been recognized by the Association of Fundraising Professionals as Los Angeles’ (“AFP”) Outstanding Philanthropist for 2022.

In addition to leading the firm he founded in 2013 to become one of the most active multifamily investors in the United States with more than $18 billion in assets under management, Hart is actively involved a wide variety of charitable and academic organizations helping to raise tens of millions of dollars through his personal giving and fundraising activities.   Generously giving of his time, Bob also sits on the Board Directors for Chrysalis, Board of Governors for The City of Hope and Board of Trustees for his alma mater Worcester Polytechnic Institute and The Marlborough School in Los Angeles. 

“Bob is a builder - bringing people together to create something better than the sum of its parts,” said Chrysalis President and CEO Mark Loranger, who nominated Bob for the award.  “He has connected Chrysalis with a huge network of donors, hiring partners, volunteers, and other champions, and he has raised millions to further our mission to change lives through jobs.” 

“As professional fundraisers we dream of working with donors like Mr. Hart - individuals who are willing to make long-term commitments of time, talent and treasure to causes they care deeply about,” added Yvette Herrera, Vice President, Netzel Grigsby Associates and AFP - Greater Los Angeles, 2022 Board President.   “We were thrilled to receive his moving nomination from Chrysalis for his many years of service and look forward to celebrating him alongside our other National Philanthropy Day honorees for all they do to make Los Angeles a place we are proud to call home.”

Bob will be presented the award at AFP’s 37th annual National Philanthropy Day luncheon, October 28, at the JW Marriott Los Angeles at LA Live.     

The Association of Fundraising Professionals (AFP) represents 25,000 fundraisers in more than 222 chapters throughout the world, working to advance philanthropy through advocacy, research, education, and certification programs. The AFP Greater Los Angeles Chapter, which represents more than 350 fundraisers, fosters development and growth of fundraising professionals, and promotes high ethical standards in the fundraising profession. For more information, go to www.afpglac.org. 

TruAmerica Multifamily, in partnership with funds managed by Eagle Realty Group, has acquired Charleston Landings and Charleston Edge, a 372-apartment home community located in the Brandon submarket of the Tampa metro. It is the 12th acquisition in Florida’s second largest market for the Los Angeles-based multifamily investment firm. 

Completed in 1986, Charleston Landings features a mix of one- to three-bedroom apartment homes ranging from 503 to 1,162 square feet. Built in 2016, Charleston Edge, the second boutique phase of the development, offers one- and two-bedroom units ranging from 789 to 1,281 square feet. Located about a mile from Interstate 75 and only 15 minutes from downtown Tampa, the property offers quick access to employment centers, such as Westshore Business District and its more than 4,000 businesses, and is surrounded by high-quality shopping, restaurants and local entertainment. 

Through its multimillion-dollar capital improvement program, TruAmerica plans to upgrade Charleston Landings’ units, which remain in classic or lightly renovated condition. The company will also perform select accretive improvements to Charleston Edge in order to achieve one cohesive scope. Anticipated apartment upgrades include stainless appliances with microwave, quartz countertops with undermount sink, updated lighting and plumbing fixtures, new vinyl plank flooring, shaker cabinet fronts and bar pulls, and a tile backsplash 

“Charleston Landings and Edge have multi-faceted appeal with strong potential to reposition the property through physical and operational improvements,” said TruAmerica Co-Chief Investment Officer Matthew Ferrari, who led the acquisition team. “Our Sun Belt multifamily investment formula, which relies on high-growth markets like those found in Florida, gets a nice boost from the unique attributes of the asset and submarket against the backdrop of an even stronger overall renter economy.”     

Charleston Landings and Charleston Edge constitute TruAmerica’s 26th investment in Florida. The firm recently acquired two suburban apartment communities in Orlando, FL, in a portfolio deal that added 763 units to its Sunshine State collection. 

Francesco Carriera of Executive Vice President of CBRE Capital Markets in the firm’s Tampa office brokered the transaction.   Acquisition financing was arranged by CBRE’s Capital Markets Team led by Ryan Greer, Troy Tegeler and Trevor Breaux. 

TruAmerica Multifamily is a vertically integrated, value-add multifamily investment firm based in Los Angeles. Since its founding in 2013 by Robert Hart, TruAmerica has been one of the country's most active multifamily investors and manages a portfolio of approximately 59,000 units across prime locations throughout Arizona, California, Colorado, Florida, Georgia, Massachusetts, Maryland, North Carolina, Nevada, Oregon, Ohio, Tennessee, Texas, Utah, Idaho, New Mexico and Washington. 

TruAmerica Multifamily has acquired The Dakota, a 156-unit garden-style apartment community in Lacey, WA, a suburb of Olympia for $54 million.  The 15-year-old institutional quality asset brings the number of multifamily units in TruAmerica’s Puget Sound portfolio to approximately 2,300 units.  

Located at 6205 Pacific Avenue SE, the property benefits from numerous demand drivers including its proximity to the state capital and the Joint Base Lewis-McChord Air Force Base, home to more than 45,000 service members and civilian workers.  The local economy, once largely dependent on government and healthcare has been rapidly diversifying, as companies in manufacturing, life sciences, professional services and technology relocate to the area for its downtown waterfront and business friendly environment.  The property lies within a five-mile radius of 34 companies with at least 300 employees. 

The Dakota features a unit mix of one- and two-bedroom apartments with open-concept floorplans and an average unit size of more than 1,000 square feet.  The Dakota offers a broad array of community amenities including a swimming pool and spa, playground and a fully equipped clubhouse with fitness center, TV theater room and game room. 

The Dakota represents an attractive value add opportunity for TruAmerica as nearly 60% of the apartment homes have not been significantly renovated since the property was built in 2006, according to Associate Director Wesley LaBar, who along with Co-Chief Investment Officer Matthew Ferrari led the acquisition team. 

“The Dakota offered everything we look for in an investment including a strategic location near major employment centers, excellent schools and a strong social infrastructure,” said LaBar.    “With a major presence in the Puget Sound, we will be able to take advantage of economies of scale to improve the property, and still keep rents affordable compared to newer and more expensive properties among the competitive set.” 

Ben Johnson, David Sorensen, George Pallis and Kenny Dudunakis in Berkadia’s Seattle office marketed the property on behalf of the seller, a Bellevue-WA-based private investment firm. 

TruAmerica Multifamily is a vertically integrated, value-add multifamily investment firm based in Los Angeles. Since its founding in 2013 by Robert Hart, TruAmerica has been one of the country's most active multifamily investors and manages a portfolio of approximately 59,000 units across prime locations throughout Arizona, California, Colorado, Florida, Georgia, Massachusetts, Maryland, North Carolina, Nevada, Oregon, Tennessee, Texas, Utah, Idaho, New Mexico and Washington. For more information on TruAmerica Multifamily, visit http://www.truamerica.com.

TruAmerica Multifamily, owner and operator of more than 3,000 multifamily units in the Phoenix metro, has acquired Rise on Peoria, a 164-unit garden-style apartment community for $45.4 million. 

The property constitutes a compelling value-add opportunity with 130 of the apartment homes available for full or partial renovation.

Built in 1986, Rise on Peoria, which has been rebranded as “Verve,” offers a mix of one- and two-bedroom apartment homes. TruAmerica’s capital improvement plan will include the renovation of all unit interiors, as well as targeted improvements to exteriors and amenity spaces to create a highly differentiated product among its competitors that meets the ongoing demand for quality, affordable multifamily housing.    

“The nation-leading population and job growth in Phoenix over the last several years has led to the localized expansion of the major employment centers such as Deer Valley that is within a short drive of the community,” said Zach Rivas, TruAmerica Senior Director of Acquisitions who oversees the firm’s investment efforts in the western U.S.  “This has led to increasing demand that has not yet kept up with supply of much needed rental housing throughout Metro Phoenix.”    

According to the Census Bureau, Phoenix has experienced an influx of 160,000 new residents over the past 10 years, raising the overall population by 11.2 percent over that time period, the top growth rate among big American cities. Phoenix is the fifth-biggest urban center in the U.S, creating heightened demand for quality housing. 

“Verve is a strategically located institutional-quality asset that will help fortify our portfolio and position in the market,” Rivas concluded.

Brad Goff, Brett Polachek and Chris Canter in Newmark’s Phoenix office represented both parties in the transaction.