TruAmerica Multifamily Acquires 446-Unit Bricks at Perimeter Center in Atlanta Metro

TruAmerica Multifamily announced Oct. 19 that it has acquired Bricks at Perimeter Center, a 446-unit multifamily community in the Perimeter Center submarket of the Atlanta metro area. The acquisition expands the Los Angeles-based firm's Atlanta-area holdings.

TruAmerica Multifamily Buys Bricks at Perimeter Center From Clark Ventures

The property, also marketed as The Bricks Perimeter Center, is located at 302 Perimeter Center North in Dunwoody, Ga. The seller was Atlanta-based Clark Ventures, which previously paid $69.5 million for the asset. That prior purchase price equates to roughly $155,800 per unit based on the 446-unit count.

A 2026 county assessed value for the property is approximately $105 million, or about $235,400 per unit; that figure is a valuation benchmark and not a confirmed sale price.

The acquisition pushes TruAmerica Multifamily's Atlanta-metro holdings past the 3,000-unit mark.

Property Details and Unit Mix

Bricks at Perimeter Center is a garden-style, low-density community with five-story buildings. Property listings cite a year built of either 2006 or 2007. The average floor plan is approximately 926 square feet, which implies roughly 413,000 square feet of rentable area across the 446 units.

The unit mix comprises 16 studios, 250 one-bedroom units, 154 two-bedroom units and 26 three-bedroom units. The community also features four courtyards, two of which include lake-like water features, and penthouse units with ceilings ranging from 15 to 20 feet.

Value-Add Renovation Plan

TruAmerica Multifamily identified 442 of the 446 units, or about 99% of the property, as being in classic or partially upgraded condition. The firm plans to renovate those units with quartz countertops, stainless-steel appliances, new flooring, cabinetry and hardware.

Wes LaBar, TruAmerica Multifamily's head of national acquisitions, said the property was purchased at a "meaningful discount to replacement cost."

Location and Atlanta Market Context

The Perimeter Center submarket is anchored by the Perimeter Center central business district and Perimeter Mall, with access to Interstate 285, Georgia 400 and MARTA. The Dunwoody area has no multifamily units scheduled for delivery in 2027, which limits near-term competition from new apartment supply.

Atlanta multifamily vacancy was 5.86% in the second quarter of 2026, up 12 basis points from a year earlier but down from 6.45% in the first quarter. Vacancy was forecast to reach 5.6% by year-end. The median Atlanta multifamily sale price was $163,200 per unit in the second quarter, down from 2025 as transaction composition shifted.

About TruAmerica Multifamily

TruAmerica Multifamily is a national, vertically integrated multifamily investment firm based in Los Angeles. Founded in 2013 with a mission of building better communities by addressing essential housing needs, the firm describes itself as one of the largest and most active multifamily owners and operators in the United States.

Sources

• TruAmerica Multifamily Expands Atlanta Metro Footprint With Bricks at Perimeter Center Acquisition: https://www.truamerica.com/truamerica-multifamily-expands-atlanta-metro-footprint-with-bricks-at-perimeter-center-acquisition/
• TruAmerica Acquires Bricks at Perimeter Center: https://www.truamerica.com/truamerica-acquires-bricks-at-perimeter-center/