After a sluggish summer sales market, multifamily deal announcements have picked up in the past week. 

Major national players announced acquisitions on both coasts, with deals in the mid-Atlantic and California. Other investors, like Decron Properties and Burroughs & Chapin Co., also got into the act.

In Decron’s case, the firm made its first acquisition in nearly two years. “We remain active, well capitalized and highly disciplined about where we invest,” said Decron President and CEO David Nagel in a press release announcing the purchase.

Here is a rundown of seven trades announced in the past week.

TruAmerica makes Bay Area buy

On Sept. 18, TruAmerica Multifamily announced the acquisition of Bridges at San Ramon, a 200-unit, garden-style apartment community located in San Ramon, California, according to a press release shared with Multifamily Dive. The property sits in the San Francisco Bay Area, where the firm owns and operates 1,240 units. Bishop Ranch, an East Bay employment and retail hub, is immediately adjacent to the property.

Bridges at San Ramon offers 200 one- and two-bedroom residences with private patios and balconies, central air and in-unit washers and dryers. Its amenities include a pool and spa, fitness center, resident lounge, courtyard and barbecue area, playground and pet spa, as well as electric vehicle charging stations and garage parking, per the release. 

TruAmerica plans to upgrade 192 units with its premium finish package, including quartz countertops, stainless steel appliances, wood-style flooring and upgraded fixtures and hardware, per the release. The prior owner completed a $2.3 million exterior and common-area improvement program over the past five years.

Decron makes LA acquisition

On Sept. 18, Decron Properties announced that it acquired 5550 Wilshire, a 163-unit mixed-use apartment community in Los Angeles’ Miracle Mile for $114 million, according to a press release shared with Multifamily Dive. 

The property, developed in 2010 to luxury condominium specifications, offers one-, two- and three-bedroom apartments and townhomes, per the release. 5550 Wilshire has a resort-style pool and spa, a resident lounge, a private movie theater and rooftop skyline lounges.

In addition to parking for 484 vehicles, the property has 14,686 square feet of fully leased ground-floor retail space. Its national credit tenants include Chipotle, Five Guys and FedEx Office, per the release.

Bell purchases communities on both coasts

On Sept. 16, Bell Partners announced the acquisition of two apartment communities through Bell Value Add Fund VIII: Bell Diridon, a 250-home community in San Jose, California, and Bell Vienna Metro, a 251-home community in Fairfax, Virginia, according to a press release. 

Although they sit on opposite coasts, both communities share common threads. They offer convenient access to major employment centers, transit connections and lifestyle amenities. Bell plans what it calls “thoughtful improvements” at both assets, according to the release.

Bell Diridon provides oversized apartment homes, including townhome-style units, per the release. The company plans to refresh the clubhouse, pool and fitness center and improve kitchens, bathrooms, flooring and lighting in individual units.

Bell Vienna Metro provides direct access to the Washington metro system, major transportation corridors and multiple employment centers across the region, per the release. The firm plans to add a new fitness center, refresh amenity spaces, enhance the leasing experience and upgrade apartment homes.

Standard Real Estate Investments nabs two Maryland properties

On Sept. 16, Standard Real Estate Investments announced two acquisitions in Owings Mills, Maryland, near multiple retail and lifestyle destinations, according to press releases shared with Multifamily Dive. 

In one deal, the firm partnered with Benefit Street Partners to buy Greenwich Place, a 332-unit property built in 2007. The apartment and townhome community features a mix of one-, two-, and three-bedroom residences across a four-story mid-rise building and 120 townhome units. 

The asset’s recently upgraded amenity package includes a swimming pool, fitness center, resident clubroom, theater room, business center, cyber cafe and library, as well as package services and controlled-access features. 

In the second acquisition, Standard partnered with Belay Investment Group to buy The Townes at Mill Run, a 108-unit luxury townhome community and one of the area's only rental communities primarily composed of townhome-style floor plans, per the release. 

The Townes at Mill Run, situated on approximately 7.9 acres, consists of nine residential buildings, with an average unit size of about 1,376 square feet. Amenities include a clubhouse, a fitness center, outdoor gathering spaces, a playground and a car wash station, per the release.

Apartments feature granite countertops, contemporary cabinetry, full-size washers and dryers, private entries, patios or balconies and attached garages in select layouts. Standard and Belay will evaluate opportunities for property upgrades.

Burroughs & Chapin Co. buys South Carolina property

On Sept. 14, Burroughs & Chapin Co. announced the acquisition of District West, a 365-unit class A apartment community located in downtown Greenville, South Carolina, according to a release shared with Multifamily Dive.

Chicago-based Mesirow sold the asset, which places residents near dining, retail, recreation and employment centers. The property has studio and one- and two-bedroom apartments ranging from 523 to 1,069 square feet, according to Apartments.com.

“District West is an irreplaceable asset in an outstanding location, in a market we know well and have long admired,” James Apple, president and CEO of Burroughs & Chapin, said in the release. “This acquisition reflects our disciplined focus on owning best-in-class real estate in markets with attractive supply and demand fundamentals.”

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