TruAmerica Multifamily has kicked off 2025 with a series of moves to expand its core team and business lines, including the launches of affordable housing and structured finance verticals.
“These new investment strategies will complement TruAmerica’s extensive track record in the value-add sector and are a natural evolution of the platform our team has established,” said president and CEO Bob Hart. “Our value-add multifamily investment strategy remains our core strategy, and the numerous key hires and industry veterans we’re bringing on board will continue to strengthen these existing business lines. TruAmerica’s dedication to scaling its platform not only addresses diverse market demands but also amplifies our ability to build better communities.”
In mid-January, TruAmerica announced that its affordable housing vertical will begin to take shape over the coming months with a significant acquisition of a low-income housing tax credit portfolio. The firm has tapped Ben Finley as its managing director of affordable housing. With over 25 years of experience in multifamily real estate, Finley previously served as managing director at April Housing, where he led capital transactions for Blackstone’s affordable housing portfolio. Prior to that, he had leadership roles at Avanath Capital Management and Richman Community Capital.
“Ben’s comprehensive background in the preservation of affordable housing and his deep-rooted industry relationships will ensure that TruAmerica continues to make meaningful contributions to housing affordability,” said Noah Hochman, co-chief investment officer and head of capital markets. “His leadership will be invaluable as we establish and scale this important vertical.”
At the end of January, TruAmerica introduced its structured finance vertical, a strategic investment to complement its flagship value-add investment platform. The firm noted that this marks another milestone in the firm’s growth and diversification strategy.
The vertical will leverage the firm’s national footprint to launch preferred equity and mezzanine debt offerings for multifamily.
“TruAmerica’s preferred equity offering will fill ongoing equity gaps for multifamily acquisitions, recapitalizations, loan rebalancings, and development transactions,” noted Hochman.
Veteran real estate finance executive Ash Baraghoush has been named senior managing director and will lead the structured finance vertical. He comes to the firm from Pacific Urban Investors.
“This is an extraordinary opportunity to contribute to the growth and evolution of one of the nation’s most innovative multifamily investment platforms,” said Baraghoush. “Structured finance allows us to expand our impact by unlocking new pathways for capital allocation and providing creative financing solutions to the market.”
In addition to the vertical launches, TruAmerica has made two other strategic hires to lead its growth plans.
Ted Egner has joined the firm to lead acquisitions in the Mid-Atlantic and Northeast regions, with further expansion planned for its East Coast acquisitions and asset management teams.
Egner’s role will focus on acquisitions from the Carolinas to the Northeast, where TruAmerica manages nearly 4,000 units and plans to grow its footprint. He has over 15 years of industry experience, working for Lincoln Property Co. and Silverwood Cos.
“Ted’s deep knowledge of the East Coast markets and his ability to identify high-potential acquisitions will be instrumental in expanding TruAmerica’s footprint in these regions that we anticipate will benefit from favorable tailwinds over the near term,” said Matt Ferrari, co-chief investment officer and head of acquisitions.
The firm also is taking its build-to-rent vertical that was launched in 2022 to its next growth stage, focused on targeted investment strategies in high-demand locations in California. Stuart Cramer, who had been brought on initially in an advisory role, has joined the firm full time. He has over four decades of real estate leadership, including serving as president of residential investments at Kennedy Wilson. He will oversee the vertical’s growth, beginning with a new townhome development in the Los Angeles metro.
TruAmerica has over $15.5 billion in assets under management and a portfolio spanning over 60,000 units nationwide.
