Western Wealth Capital Acquires Bel Air K Station Apartment Homes in Plano, Texas
February 15, 2022
Growth-oriented multifamily real estate investment company acquires second property in Plano, Texas directly adjacent to a busy commuter train station linking to a booming tech scene in under 5-minutes.
North Vancouver, Canada (February 15, 2022) – Western Wealth Capital (WWC) announces the closing of its 118th real estate acquisition – Bel Air K Station Apartment Homes in Plano, Texas. This is Western Wealth Capital’s 19th multifamily acquisition in the Dallas-Fort Worth (DFW) market.
WWC and its investment partners closed on the 245-unit multifamily apartment community of Bel Air K Station Apartment Homes, originally constructed in 2001. This Dallas-area deal further solidifies WWC’s footprint in the U.S. multifamily housing market and follows WWC’s disciplined investment criteria.
Major employers in the city include State Farm, Texas Instruments, and Blue Cross & Blue Shield. Bel Air K Station is in the center of Downtown Plano immediately beside the Downtown Plano DART Rail Station providing easy and quick access to large employment hubs nearby including the Telecom Corridor with over 70,000 tech employees.
Bel Air K Station presents strong value-add opportunities from interior renovations, washer/dryer installations, current rents well below market value, a unique commercial flex space that can be converted into three separate residential spaces, and an unused rooftop deck space that can be used as a resident lounge.
“Plano’s trendy atmosphere and proximity to nearby tech employers have made it a popular destination to move to,” says Jay O’Connor, Senior Director of Acquisitions at WWC.“
“K Station’s prime location in the very center of downtown Plano directly beside a popular commuter rail station makes this a great opportunity to attract the nearby tech culture and raise value with new contemporary interior design styles that create a work, live, play environment similar to the surrounding neighborhood.”
WWC has acquired 118 multifamily rental buildings, representing over $4.6 billion in real estate transactions. The company’s current portfolio of assets under management includes 65 multifamily rental buildings totalling more than 17,000 units.
About Western Wealth Capital
WWC has developed a proven system for investing in multifamily properties in key real estate markets across the U.S. WWC offers investment partners the opportunity to invest in properties with substantial value-add opportunities. Since its inception, WWC has successfully completed more than $4.6 billion in real estate transactions representing more than 27,000 total units.
WWC’s vision is to build wealth for their investment partners with industry-leading returns. A people-first approach promotes excellence at every point; with highly efficient operations and a true commitment to our communities.
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