U.S.-based real estate investment trust TruAmerica Multifamily has bought two apartment community in Denver and Orlando for a combined $126.3 million.
TruAmerica Multifamily bought the Loretto Heights, a 312-unit apartment community in Denver, Colorado for $72.25 million and Legends at Lake Mary in Orlando, Florida for $54 million.
With the move, TruAmerica noted that it now owns and operates five properties in Denver totalling approximately 2,000 apartments.
TruAmerica, which funded the move with credit financing, expects to upgrade the exterior and common areas to enhance the property’s overall curb appeal.