Since its founding in 2013 by real estate investor Robert E. Hart, the company has acquired and/or asset manages a portfolio of more than 55,000 apartment units valued at roughly $16.1 billion.
[4] Since its founding, TruAmerica has largely focused on investing in and renovating older mid-level or “Class B” garden style and midrise apartment communities to attract a segment of the population that rents out of necessity.
[7] In its first years of existence, TruAmerica focused on investments in major metro areas throughout the western U.S., including Northern and Southern California, Salt Lake City, Las Vegas, San Diego, Phoenix, Denver, Portland, and Seattle.
[14] At the end of 2017, 15 percent of the company's portfolio was located in Maryland and Florida and it signaled plans to make major investments in other mid-Atlantic and southern states.
[15] Blackstone Real Estate Income Trust became the 16th institutional capital partner to joint venture with TruAmerica when they acquired a 635-unit portfolio of assets in Denver and Seattle in January 2018.