TruAmerica and Allstate Spend $90M on Escondido-Based Apartments

TruAmerica, a Los Angeles-based investment firm focused on acquiring, rehabilitating and managing multifamily housing in western US, has teamed up with Allstate to acquire Escondido, California-based 519-unit Eagles Point Apartment Community for ~$90 million. Fun Fact: Escondido is one of the fastest growing cities in North San Diego County. Over the past five years, its population has grown by 6.3% and it is projected to grow by an additional 5.4% by 2021, according to FastReport. Bottom Line: Allstate has now acquired more than 7,600 units through its joint venture with TruAmerica . In fact, a prior deal with TruAmerica focused on assets located in Seattle, WA and Portland, OR and saw investment participation from Guardian Life. Read in the context of: Motorists Insurance Group enters real estate development.