TruAmerica Multifamily Acquires 226-Unit Apartment Community in Chattanooga, TN
The Californer/10158946

LOS ANGELES - Californer -- TruAmerica Multifamily has acquired Ridgemont at Stringers Ridge, a 226-unit multifamily community in Chattanooga, TN.

Ridgemont at Stringers Ridge is TruAmerica's first acquisition in Chattanooga and third in Tennessee in the last 10 months. Built in 1988, the property features a mix of one- and two-bedroom apartment homes. The property provides TruAmerica with the opportunity to upgrade both the unit interiors and common areas.

Chattanooga is the fourth largest city in Tennessee and since 2010 has been the second fastest-growing big city in the state. Chattanooga's low cost of living, diverse economy and growing job market have fueled that phenomenal population growth buoyed by the steady influx of major companies into the market. Those companies include Cigna, Northwestern Mutual, Tennessee Valley Authority, and Erlanger Health System. Employment opportunities have brought a stream of new residents, creating a growing need for quality housing.

More on The Californer

• PODS Local Helps Residents Meet Their 2026 New Year's Resolution
• HBZBZL Unveils "Intelligent Ecosystem" Strategy: Integrating AI Analytics with Web3 Incubation
• Kaltra Launches Next-Gen MCHEdesign With Full Integration Into MCHEselect — Instant Simulation & Seamless Microchannel Coil Workflow
• Nexar Bit Exchange Enhances Platform Infrastructure
• Jon Robert Quinn Builds Awepra, AwepraAI, and AwepraQ to Redefine the Future Beyond Social Media

"Chattanooga checks all the boxes when it comes to demand drivers we look for in a multifamily market," said Matt Ferrari, Co-Chief Investment Officer at TruAmerica. "Its heightened level of affordability and continued in-migration into the MSA were several of the key factors that we valued prior to entering this new market."

Situated just off state route 27, the property is two miles north of downtown Chattanooga, providing easy access to the city's largest employers and amenity centers, as well as its renowned parks and nature preserves. It is also zoned to the highly ranked Hamilton County School District and just a short ten-minute drive from the University of Tennessee at Chattanooga, which has 12,000 students and 1,400 faculty members.

Ridgemont at Stringers Ridge's location in the North Shore submarket attracts renters seeking a suburban lifestyle with proximity to urban amenities. North Shore has a myriad of upscale restaurants, bars, and shops, and has experienced over 20 percent population growth over the last decade, primarily due to millennial migration, according to figures from CBRE which marketed the property for sale on behalf of the seller.  Ridgemont is also the only apartment community with a trailhead on Stringer's Ridge, a 92-acre nature preserve with popular walking, mountain biking and hiking trails.

More on The Californer

• A Well-Fed World, Youth Climate Save and PAN International Launch PHRESH: A Global Directory of Plant-Based Hunger Relief Organizations
• 4-Hour Work Day: Jon Robert Quinn Challenges Hustle Culture and Redefines Entrepreneurial Success
• Long Beach: City Announces Conclusion of SEED Program Following Loss of Federal Funding, Launches LBPL Creativity Lab
• Long Beach Health Department Launches Expanded Fund Initiatives to Support Community Health and Local Nonprofits
• California turns winter season rain into future water supply

About TruAmerica Multifamily
TruAmerica Multifamily is a vertically integrated, value-add multifamily investment firm based in Los Angeles. Since its founding in 2013 by Robert Hart, TruAmerica has been one of the country's most active multifamily investors and manages a portfolio of approximately 54,000 units across prime locations throughout Arizona, California, Colorado, Florida, Georgia, Massachusetts, Maryland, North Carolina, Nevada, Oregon, Tennessee, Texas, Utah and Washington. For more information on TruAmerica Multifamily, visit http://www.truamerica.com.

(818) 540-8077 (mobile)