TruAmerica Buys Atlanta High-Rise
The company has acquired more than $250 million in residential assets in the first quarter.
TruAmerica has acquired The Tower on Piedmont, a 155-unit high-rise in Atlanta. CBRE represented the seller and arranged financing for the buyer.
Lionstone Investments and PCCP previously owned the asset, according to Yardi Matrix information. Lionstone had acquired it from Coro Realty Advisors for $69 million in 2021; PCCP had become part of the ownership in 2025, following a recapitalization deal.
The 20-story community is at 3242 Peachtree Road NE, within Atlanta’s Buckhead submarket. The property anchors the Buckhead Place mixed-use development, which includes more than 150,000 square feet of retail alongside residential and hospitality space. Downtown Atlanta is within 10 miles south.
The high-rise comprises studio, one-, two- and three-bedroom floorplans ranging from 729 to 2,696 square feet, as well as 131,000 square feet of retail space. Apartments have private balconies or patios and walk-in closets.
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Common-area amenities include a fitness center, swimming pool, sky lounge with catering kitchen, rooftop pool with sundeck and social lounge with gas grills. The community also has a social gathering area and a cybercafé.
The previous ownership implemented $3 million in capital improvements at the 2009-completed property, renovations including amenity enhancements and interior upgrades. TruAmerica plans to continue the modernization process and update unit interiors, the rooftop pool lobby and fitness center.
CBRE Senior Vice President Colleen Hendrix, Vice Chair Shea Campbell and Executive Vice President Ashish Cholia negotiated on behalf of the seller. In addition, Vice Chairs Ryan Greer and Troy Tegeler arranged the financing.
TruAmerica’s growing residential portfolio
TruAmerica’s multifamily portfolio comprises $17 billion in assets under management. The company has about 65,000 apartments across 16 states and more than 35 U.S. markets.
The company has purchased more than $250 million in market-rate and affordable assets during the first quarter of this year. Recent deals include the acquisition of two metro Los Angeles assets totaling 157 units.
TruAmerica also closed a $708 million investment vehicle last month. The Workforce Housing Fund II will enable the firm to spend roughly $2 billion across 25 markets.
