November 22, 2024 8:52 am
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TruAmerica makes significant Arizona investment for $80.9 million

Screen Shot 2016-07-27 at 9.06.33 AMBy Jeffrey Steele | Multi-Housing News

The company acquired 644-unit Scottsdale Springs, an institutional-quality multifamily property in downtown Scottsdale

TruAmerica has made its most significant investment in Arizona, by acquiring the 644-unit Scottsdale Springs, an institutional-quality multifamily property in downtown Scottsdale. TruAmerica acquired the property from New York-based Abacus Capital Group in an $80.9 million off-market transaction.

One of the few low-density multifamily settings in Scottsdale, the 36-year-old Scottsdale Springs offers one-, two- and three-bedroom apartments ranging from 680 to 1,440 square feet. Among the common-area amenities of the property are three resort-style pools, dog park, clubhouse, outdoor kitchens and barbecue areas.

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Photo credit: Showmetherent.com

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