Robert “Bob” Hart, president and CEO of TruAmerica Multifamily will be honored by Chrysalis at its 2021 Chrysalis Night In virtual gala, designed to raise funds and awareness for a proven solution that helps people experiencing homelessness and economic barriers to the workforce by providing the resources and support needed to prepare for, find, and retain employment. 

Bob has served on the Chrysalis Board for 17 years, half as chairman and in that time, has helped drive the phenomenal growth of the organization and ability to meet the needs of the community.

“Bob is a true Chrysalis champion,” said Chrysalis President and CEO Mark Loranger.  “Bob was Board Chair as Chrysalis navigated the Great Recession in 2008-2009, and with his help, we are now navigating the pandemic recovery. Bob is a builder - bringing people together to create something better than the sum of its parts. 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. We are thrilled to honor Bob Hart at Chrysalis Night In 2021.”

Other honorees incude Demi Weitz, Co-Creator, RWQuarantunes, and Richard Weitz, Partner, WME & Co-Creator, RWQuarantunes.

During this time when many must continue to celebrate virtually, Chrysalis was able to transform the iconic Butterfly Ball by launching its first virtual fundraiser, Chrysalis Night In. Last year alone, over 800 guests joined together virtually for an unforgettable event benefitting Chrysalis’ vision of a community where everyone has the right to work and thrive. 

This year’s virtual gala is set be a star-studded affair complete with musical and comedy performances, celebrity appearances and exclusive auction items available to ticket holders and sponsors. The gala’s sponsors are Benedict Canyon Equities, Blackstone, Greystar, Johnny Carson Foundation, Kennedy Wilson, NBCUniversal, Netflix, TruAmerica Multifamily and U.S. Bank, and event co-chairs include Kerry Brown, Rebecca Gayheart Dane, Rick Hess, Josh Lieberman, Stacey Sher and Richard Weitz.

Celebrity attendees have already begun to confirm their attendance to this private, virtual gala which will be streamed live from 7 p.m. – 8:30 p.m. PST on Thursday, May 13. Participants in last year’s event included Anne Hathaway, Robert De Niro, Jamie Foxx, Zach Braff, Natasha Bedingfield, Gavin Rossdale, Linda Perry, and Seth MacFarlane, among others.

“The health crisis of COVID-19 has created a parallel unemployment crisis and Chrysalis is uniquely positioned to help our community recover,” Loranger added. “Over the past year, we have welcomed more than 5,000 new clients virtually. And in the same way that we had to transition to a virtual service model, we are also incredibly proud to have the support of our donors and community members who are celebrating with us online at Chrysalis Night In instead of meeting in person at the Butterfly Ball.”

Tickets to this year’s event begin at $50.00 per household, making this exclusive event accessible to all individuals across the globe who believe in the organization’s powerful mission. 

For more information on ticketing or sponsorship details, call (310) 401-9393, e-mail This email address is being protected from spambots. You need JavaScript enabled to view it., or visit www.changelives.org/cni.

TruAmerica Multifamily has established a Central U.S.  headquarters office in Dallas, TX under the direction of new hire Ammanuel Metta, as it continues to expand its investment platform nationally, announced CEO and founder Robert Hart. 

The Los Angeles-based real estate investment firm was founded in 2013 by Hart to acquire and improve value-add workforce housing apartment communities.  Focusing initially on assets in the Western U.S., TruAmerica built a portfolio of more than 29,000 units in its first three years of operation.   In 2016, TruAmerica opened its first regional headquarters office in Washington, D.C. to support investment activities in select East Coast growth markets.  Today, approximately 25 percent of TruAmerica’s 43,000-unit, $9.6 billion-portfolio is located in Florida, Georgia, Maryland and North Carolina, accounting for roughly half of TruAmerica’ new acquisitions in 2018/2019.

“Our long-term strategic plan called for TruAmerica to become a national investment platform within 10 years,” said Hart.  “We have worked hard to develop a strong corporate infrastructure and culture with mature regional asset and construction management operations that could support our platform nationally.  Entering the Texas and Midwest markets is our logical next step towards achieving our goal.” 

Ammanuel Metta joins TruAmerica as Senior Director of Acquisitions and will lead the firm’s investment efforts in Texas and the Midwest.    Metta brings more than 12 years of multifamily investment experience to the position, the last seven with Dallas-based Price Realty Corporation.  As Vice President of Acquisitions at Price, he was responsible for identifying multifamily investment opportunities throughout Texas.  Metta is a graduate of the University of Texas at Austin, where he also earned an MBA with a specialization in real estate finance.

The move reunites Metta with TruAmerica’s Head of Acquisitions and Co-Chief Investment Officer Matt Ferrari, who worked together at Archstone in the real estate investment trust’s Leadership and Management Development Program.

“The key to our successful platform is finding talented people whose skill sets and values match our corporate culture and Ammanuel checks every box,” added Ferrari. “Having personally known Ammanuel for more than 10 years, he was the clear choice to lead our initiative in the Heartland.”

TruAmerica Multifamily, which owns and operates nearly 2,000 multifamily units in Phoenix AZ, has acquired Covington Park, a 520-unit garden-style apartment community for $77.26 million.

Built in 1999, Covington Park is located in Phoenix’ Northwest Corridor.   It is one of the newest communities in the submarket, with much of the surrounding inventory built in the 1970s and 1980s.   Despite the continuing influx of new residents seeking job opportunities, no new multifamily communities are under construction or planned within three miles of the property.  This has created a severe supply/demand imbalance, according to TruAmerica Director of Acquisitions Chris MacLeod who led the acquisition team.

“Demand for multifamily housing throughout metro Phoenix continues to be driven by robust employment and population growth,” MacLeod said. “Phoenix was the top performing employment market in the Western U.S. in 2018, adding 65,000 jobs, trailing only New York and Dallas over a two-year span. The MSA is projected to add 118,000 new residents annually through 2026.  We continue to view Phoenix as one of the top markets in the United States for multifamily investment.” 

Covington Park features a mix of one-, two- and three-bedroom homes with nine-foot ceilings, private balconies or patios, walk-in closets, and washer/dryers. Common area amenities include a three-acre community park, lighted basketball and volleyball courts, three swimming pools, a playground, a newly renovated fitness center, a dog park, a resident clubhouse, and package receiving lockers. The Property also includes 105 detached garages.

The property represents a strong value-add opportunity as 100 percent of the apartments are in their original condition. TruAmerica’s multimillion-dollar 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 the competitive set in the market that meets the ongoing demand for quality, affordable multifamily housing.    

The acquisition was leveraged with 10-year floating rate financing through Freddie Mac’s Multifamily Green Advantage platform arranged by CBRE Capital Markets Vice Chairman Brian Eisendrath. 

Tyler Anderson, Asher Gunter, Sean Cunningham and Matt Pesch from CBRE’s Arizona office marketed the properties on behalf of the seller.

TruAmerica Multifamily, which owns and operates nearly 2,000 multifamily units in Phoenix AZ, has acquired Covington Park, a 520-unit garden-style apartment community for $77.26 million.

Built in 1999, Covington Park is located in Phoenix’ Northwest Corridor.   It is one of the newest communities in the submarket, with much of the surrounding inventory built in the 1970s and 1980s.   Despite the continuing influx of new residents seeking job opportunities, no new multifamily communities are under construction or planned within three miles of the property.  This has created a severe supply/demand imbalance, according to TruAmerica Director of Acquisitions Chris MacLeod who led the acquisition team.

“Demand for multifamily housing throughout metro Phoenix continues to be driven by robust employment and population growth,” MacLeod said. “Phoenix was the top performing employment market in the Western U.S. in 2018, adding 65,000 jobs, trailing only New York and Dallas over a two-year span. The MSA is projected to add 118,000 new residents annually through 2026.  We continue to view Phoenix as one of the top markets in the United States for multifamily investment.” 

Covington Park features a mix of one-, two- and three-bedroom homes with nine-foot ceilings, private balconies or patios, walk-in closets, and washer/dryers. Common area amenities include a three-acre community park, lighted basketball and volleyball courts, three swimming pools, a playground, a newly renovated fitness center, a dog park, a resident clubhouse, and package receiving lockers. The Property also includes 105 detached garages.

The property represents a strong value-add opportunity as 100 percent of the apartments are in their original condition. TruAmerica’s multimillion-dollar 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 the competitive set in the market that meets the ongoing demand for quality, affordable multifamily housing.    

The acquisition was leveraged with 10-year floating rate financing through Freddie Mac’s Multifamily Green Advantage platform arranged by CBRE Capital Markets Vice Chairman Brian Eisendrath. 

Tyler Anderson, Asher Gunter, Sean Cunningham and Matt Pesch from CBRE’s Arizona office marketed the properties on behalf of the seller.

TruAmerica Multifamily, in joint venture with RSE Capital Partners, has acquired a two-property, 454-unit multifamily portfolio in the Tampa submarket of Pinellas County for $63.75 million.

The portfolio acquisition increases TruAmerica’s Florida portfolio to nearly 5,000 units, with 20 percent in the Tampa/St. Petersburg market, considered one of Florida’s most dynamic apartment markets, according to Co-Chief Investment Officer and Head of Acquisitions Matt Ferrari.

“The Tampa MSA continues to experience exceptional job growth and the employment mix is rapidly shifting toward high-wage occupations in the finance, business services, education, and healthcare industries,” Ferrari said. “The high barriers to entry have limited new supply, creating tremendous demand for quality affordable rental housing.”

The acquisition is the first joint venture between TruAmerica and Washington D.C.-based RSE Capital Partners. 

“This partnership was fortified through a shared vision for these properties,” said Noah Hochman, Co-Chief Investment Officer and Head of Capital Markets for TruAmerica. “Working side-by-side with the RSE team was a great experience and it’s our joint desire, to pursue other investments together in the near future.”

“We’re excited to kick off our first deal with TruAmerica, who we regard as one of the top owners nationwide,” said Max Kirschenbaum, Head of Business Development for RSE. “We look forward to working with their team to unlock the full potential of these great assets.”

Twin Lakes and Runaway Bay are both 1980s vintage garden-style multifamily communities located 20 minutes apart along US Highway 19, the area’s main north-south thoroughfare. Each community features a mix of one- and two-bedroom floorplans situated in two-story residential buildings in a low-density environment. 

TruAmerica and RSE will institute a significant capital improvement plan across the portfolio, renovating the interiors with higher end finishes to create a more modern look and feel. Plans also call for select exterior and common area upgrades that include new signage and paint, landscaping, a new outdoor kitchen and refreshing of the clubhouse, fitness center and pool areas to enhance the resident living experience.

Newmark Knight Frank Multifamily Vice Chairman Patrick Dufour and Director Ryan Crowley marketed the properties on behalf of the seller and the acquisition was leveraged with 10-year Agency financing arranged by Newmark Knight Frank Executive Managing Director Mitch Clarfield and Director Ryan Greer. 

In the largest single multifamily asset transaction in Nevada history, TruAmerica Multifamily, in joint venture with an institutional capital partner, has acquired Allanza at the Lakes (Allanza), an 896-unit multifamily community in Las Vegas, NV for $152 million.

With the acquisition, TruAmerica has started 2019 with almost $900 million in transaction activity including the acquisition of approximately 3,700 units in Florida, Georgia, Nevada and Colorado.

“We continue to fine tune our portfolio building scale where we have a significant presence like Las Vegas and expanding our national footprint into new markets such as Atlanta,” said TruAmerica Founder and CEO Robert E. Hart.  

With 896 units, Allanza is the fourth largest apartment building in Nevada and the largest acquisition by unit-size in the six-year history of the Los Angeles-based real estate investment firm.  Since entering the Las Vegas market in 2016, TruAmerica, alongside its institutional partners, has significantly grown its local portfolio through selective acquisitions. TruAmerica now owns approximately 4,000 units in Nevada, making it one of the largest multifamily landlords in the state. 

Las Vegas exhibits all of the fundamental indicators of apartment appreciation making it a market that TruAmerica believes will continue to experience long-term investment upside, according TruAmerica Director of Acquisitions Zach Rivas.

“Las Vegas maintains itself as one the lowest income-to-rent ratios MSA’s in the country making renting a very attractive proposition for Las Vegas residents,” Rivas said.   “While rent growth in other markets may be slowing, Las Vegas remains strong.”

Built in 1986, Allanza features a mix of one-, two- and three-bedroom homes in 56, two-story buildings on a 40-acre site.   Located at 8600 Starboard Drive the property benefits from a “Main and Main” location in the highly desirable Lakes neighborhood in Summerlin, according to Rivas.   

In addition, the population within a five-mile radius of Allanza is expected to grow by nine percent over the next four years, according to Costar.

Allanza offers TruAmerica strong value-add upside through the implementation of an institutional quality management strategy along with a significant capital improvement program to fully upgrade the interiors of all homes, which will be executed as leases expire.  To enhance the property’s overall curb appeal, plans also call for targeted improvements to the buildings’ exterior and community areas around the property which includes five swimming pools, two fitness centers, a pet spa, picnic areas and a playground.

Senior Vice President Phillip Weigand and Vice President Thomas Olivetti in Northmarq’s Las Vegas office marketed the property for sale on behalf of the seller.