Locke Lord represented TruAmerica Multifamily LLC in the purchase of three multifamily properties from Berkshire Property Advisors for a total purchase price of $229 million. The properties are located in Renton, Wash., Denver and Aurora, Colo. Freddie Mac made three loans to facilitate the purchase.
TruAmerica purchased these properties through a joint venture with Allstate Life Insurance Company and The Guardian Life Insurance Company of America. At the same time, TruAmerica, Allstate and Guardian launched a new sponsor joint venture platform whereby the new venture would acquire additional multifamily properties in the western United States.
The transaction closed June 24. Marc Heller
, Edward Zughaib
, Lane Folsom
and Allison Harris
led the Locke Lord team.
Posted August 25, 2014