Western Wealth Capital acquires 35th multifamily building in Phoenix

Purchase of Country Gables brings total transactions to nearly $500 million

North Vancouver, Canada (Dec. 1, 2017) – Western Wealth Capital (WWC), a growth-oriented real estate investment company, is pleased to announce the acquisition of Country Gables, a multifamily residential community that further increases the company’s southwestern U.S. rental portfolio.

Country Gables represents WWC’s 35th multifamily acquisition in Greater Phoenix. Along with its new, growing footprint in Texas, WWC’s purchase price value of its total transactions to date is $499.5 million (all figures $US), the majority transacted in the last three years. WWC is the second largest multi-family owner in the Phoenix area by number of units.

WWC’s discipline in adhering to its investment strategy, combined with strong working relationships with property management partners and industry partners, has produced consistently strong operating results and investor returns, says WWC CEO Janet LePage.

“Our track record is building our reputation for executing on our precise business model. A growing investor base, including the participation of private equity groups, is enabling WWC to create scalable growth at a robust pace,” says LePage.

WWC and its partner investors acquired Country Gables, a 139-unit rental community, for $12.3 million. The Northwest Valley community is located within close proximity of major employers including, Thunderbird School of Global Management, Arizona State University, Banner Thunderbird Medical Centre and two area hospitals. Country Gables also has easy access to the I-17 and Loop 101.

Built in the 1980s, the property provides multiple value-add opportunities. Most units still retain original interior features, while 74% of apartments have washer/dryer connections but no installs.

WWC has a disciplined six-stage strategy. We acquire undervalued multi-family rental properties; carefully allocate capital to accretive improvements; optimize operations to increase the asset’s net cash flow and valuation; refinance to return equity to investors; and, when appropriate, divest.

Year to date, WWC has made 12 acquisitions and seven accretive divestments.

Since its inception in 2011, WWC has acquired 37 multifamily unit buildings, representing more than 6,500 units. Our current portfolio, net of divestments, includes 27 multifamily unit rental buildings (more than 5,100 units).

The acquisition of Country Gables was brokered by Cliff David, Senior Managing Director, Marcus & Millichap; and, Steve Gebing, Senior Managing Director, Institutional Property Advisors, a division of Marcus & Millichap.

About Western Wealth Capital

We have a singular focus: create wealth through well-selected real estate investment. We acquire under-performing multifamily rental properties and increase net operating income and valuation through an approach that has been successfully applied across our entire portfolio. We manage these assets, distribute resulting cash flow to investors and, when appropriate, divest. We only focus on markets underpinned by the economic fundamentals of population, employment and GDP growth. Our entry point is when these demand drivers place long-term pressure on vacancy rates and rental pricing. To date, we have invested in the Phoenix and San Antonio markets. Our execution and results have formed strong relationships that give us access to some of the best multifamily investment opportunities in the American Southwest.

Media and photo requests:
Glen Edwards
gedwards@national.ca

For more information:
604.260.4789
info@westernwealthcapital.com
www.westernwealthcapital.com

No securities commission or similar regulatory authority has reviewed this content. In considering the prior performance information contained herein, prospective investors should bear in mind that past performance is not necessarily indicative of future results, and there can be no assurance that Western Wealth Capital will achieve comparable results. This press release includes forward-looking statements. All statements other than statements of historical facts included in this document, including, without limitation, statements regarding the future financial position, targeted or projected investment returns and business strategy are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “forecasted,” “projected,” “estimate,” “anticipate,” “believe,” or “continue” or the negative usages thereof or variations thereon or similar terms. Forward-looking statements reflect our current expectations and assumptions as of the date of the statements, and are subject to a number of known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause actual results, performance or achievements to be materially different from any anticipated future results, performance or achievements expressed or implied by the forward-looking statements. Although we believe that the assumptions on which the forward-looking statements are made are reasonable, based on the information available to it on the date such statements were made, no assurances can be given as to whether these assumptions will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained are expressly qualified in their entirety by this cautionary statement. No representation or warranty is made to the accuracy or completeness of any of the information contained herein.