NEW YORK, NY — TruAmerica Multifamily, a national, vertically integrated multifamily investment firm, has expanded its Greater Boston presence with the acquisition of The Sto, a 179-unit apartment community in Stoughton, Massachusetts, marking another milestone in the firm’s active investment platform.
The Stoughton acquisition is one of 40 market-rate and affordable housing transactions completed nationally, encompassing nearly 6,000 units. Over the past year, TruAmerica recorded $2.5 billion in total transaction volume, including acquisitions, dispositions, refinancings, and recapitalizations.
The purchase underscores TruAmerica’s focus on delivering attainable, high-quality rental housing in supply-constrained Northeastern markets, where the cost of homeownership continues to significantly outpace rental rates. TruAmerica has been active in the Boston metro for more than six years and now owns and manages over 1,650 units in the region.
“Massachusetts continues to face acute housing affordability challenges, and Greater Boston remains one of the most supply-constrained rental markets in the country,” said Noah Hochman, Chief Investment Officer of TruAmerica Multifamily. “With homeownership in communities like Stoughton now more than double the cost of in-place rents, well-located rental housing is essential. The Sto’s large floor plans, transit access, and quality construction align strongly with our mission of providing stable, attainable housing and strengthening the communities we serve.”
Built between 2018 and 2019, The Sto features some of the largest apartment layouts in the submarket, with average unit sizes of 1,334 square feet, more than 30 percent larger than competing communities. The property includes one- and two-bedroom residences, along with loft and townhome-style configurations, offering modern finishes such as quartz countertops, updated appliances, and private balconies.
The nearly 24-acre community also provides an extensive amenity package, including a 4,500-square-foot clubhouse, a 24-hour fitness center, outdoor lounge areas with firepits, and BBQ spaces. TruAmerica plans to implement targeted enhancements to further improve common areas and unit interiors.
Located along Central Street, The Sto offers convenient access to I-95 and Route 24 and is minutes from the Stoughton MBTA Commuter Rail, providing connectivity to Metro South and West employment centers with nearly two million jobs. The surrounding Route 24 retail corridor features more than 10 million square feet of shopping, dining, and essential services.
“The Sto meaningfully advances our scale in this supply-constrained region,” said Wes LaBar, Executive Managing Director and Head of Acquisitions. “Our ability to transact at this pace—while staying disciplined—reflects both our conviction in the market and our commitment to providing attainable, high-quality housing where it’s needed most.”
The transaction was arranged by CBRE’s Simon Butler and Patrick Stapleton, with permanent financing placed by Ryan Greer and Spencer Beckwith.
