One of Buckhead’s most visible apartment towers has a new owner, but residents are not being asked to pack any boxes.
The 20-story high-rise at the intersection of Peachtree and Piedmont roads has been acquired by Los Angeles-based TruAmerica Multifamily, sliding the property into a national rental housing portfolio. The tower still appears under its existing leasing pages, and residents are not expected to see any immediate changes in day-to-day operations.
As reported by CoStar News on March 30, 2026, TruAmerica purchased the building from Lionstone Partners. CoStar identifies the asset as The Tower at Piedmont and lists CBRE brokers Colleen Hendrix, Shea Campbell, Ashish Cholia and Troy Tegeler in the article’s contact block.
About the building
The Tower on Piedmont, at 3242 Peachtree Rd NE, is listed as a roughly 155-unit, 20-story apartment building on national rental sites. Greystar shows the address and highlights amenities that include a rooftop pool, penthouse-level fitness areas and a 24-hour concierge. Apartments.com lists the community as 155 units spread across 20 stories.
Why TruAmerica is buying
TruAmerica has been busy across the country this year and describes itself as an institutional, value-add multifamily investor that focuses on renovating and operating rental housing. Recent deal coverage and the firm’s own materials show a strategy built around assembling and managing a wide portfolio in multiple metros.
Boston Agent magazine noted a January 2026 acquisition in the greater Boston area, and TruAmerica Multifamily outlines a national investment focus on its website, with an emphasis on value-add opportunities.
What comes next for residents
Greystar currently appears as the property’s leasing and management brand, and initial public reporting did not include sale terms or any immediate change-of-management plan. According to CoStar News, the item was published exclusively on that service and did not disclose the sale price.
Public deed records and other filings, or future statements from the buyer and seller, are expected to clarify transaction details in the coming weeks. Those records will be monitored for confirmation of the final price and any planned capital improvements. This report will be updated as additional information becomes available.
