Locke Lord represented TruAmerica Multifamily in the $482 million purchase of a 14-property portfolio of multifamily properties in Southern California. The portfolio, involving 2,669 units, represents the largest multifamily asset purchase in Southern California in nearly 20 years. The investment group includes TruAmerica, Guardian Life Insurance Company of America, Allstate Insurance Company and a foreign institutional investor. This transaction also involved negotiating a $354 million Fannie Mae credit facility originated by Berkeley Point Capital, negotiating a complex joint venture agreement and some sophisticated tax structuring. Marc Heller and Edward Zughaib led the Locke Lord team.
Posted January 28, 2015