Los Angeles-based TruAmerica Multifamily recently announced plans to expand operations into Texas and markets in the Midwest. The firm is backing up the commitment by opening an office in Dallas that it will use as a foothold.
Ammanuel Metta, the former vice president of acquisitions at Dallas-based Price Realty Corp., has signed on to lead the firm’s investment efforts in the expansion. Metta spent 12 years with Price Realty and will assume the title of senior director of acquisitions at TruAmerica. CEO and founder Robert Hart sees the Midwest and Texas as key markets for the firm.
“Our long-term strategic plan called for TruAmerica to become a national investment platform within 10 years,” said Hart. “We have worked hard to develop a strong corporate infrastructure and culture with mature regional asset and construction management operations that could support our platform nationally. Entering the Texas and Midwest markets is our logical next step toward achieving our goal.”
In 2016, TruAmerica opened its first regional office in Washington, D.C., to facilitate East Coast dealings. The firm also has an established presence in Florida, Georgia, Maryland, and North Carolina. The move into Texas will reunite Metta with Matt Ferrari, TruAmerica’s head of acquisitions and co-chief investment officer. “The key to our successful platform is finding talented people whose skill sets and values match our corporate culture, and Ammanuel checks every box,” added Ferrari. “Having personally known Ammanuel for more than 10 years, he was the clear choice to lead our initiative in the Heartland.”