Western Wealth Capital Acquires Broadway Apartments in Dallas, TX
June 9, 2021
Western Wealth Capital Surpasses $3 Billion In Total Transactional Value With The Completion Of Their 97th Multifamily Real Estate Investment, The Broadway Apartment Homes
North Vancouver, Canada (June 9th, 2021) – Western Wealth Capital (WWC), a growth-oriented real estate investment company, announces the closing of its 11th Dallas-area real estate deal, continuing their robust growth in select U.S. multifamily housing markets and surpassing a company milestone of $3 billion in total transactional value.
WWC and its investment partners closed on the 288 multifamily apartment community of Broadway Apartment Homes, originally constructed in 1982, on June 7th, 2021. This Dallas-area deal further solidifies WWC’s footprint in the U.S. multifamily housing market and follows WWC’s disciplined investment criteria. The Broadway Apartment Homes is WWC’s 97th acquisition since its founding in 2014. In addition to real estate investments in Phoenix, Dallas, Houston, Atlanta and San Antonio, WWC also entered the Las Vegas market in 2021.
Situated in the e-commerce submarket of East Dallas, The Broadway Apartment Homes are positioned near three major highways including the George Bush Turnpike and Interstate 635. The 370,000+ jobs in East Dallas make this an ideal area for WWC’s real estate investments. This property is a prime candidate for WWC’s repeatable value-add program, including interior renovations as many of the units retain their original finishes from nearly 40 years ago.
“Dallas is currently showing very promising population and job growth trends” says Jay O’Connor, Senior Director of Acquisitions at WWC. “With so much demand to live in the city, we are very excited to execute our business plan at Broadway Apartment Homes and begin immediate property improvements for residents to enjoy year round.”
WWC has acquired 97 multifamily rental buildings, representing $2.3 billion in acquisitions and over $700 million in dispositions for a total transactional value of $3 billion, a monumental milestone for the company to achieve. “Achieving $3 billion in total transactional value so quickly has exceeded our expectations.” says Janet LePage, CEO of Western Wealth Capital. “We are so proud of the team and look forward to continued growth in select markets.” The company’s current portfolio of assets under management includes 58 multifamily rental buildings totaling more than 15,400 units.
The acquisition was co-brokered by Bard Hoover, Nick Fluellen, and David Fersing of Marcus & Millichap (M & M), and Drew Kile and Joey Tumminello of IPA.
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 $3 billion in real estate transactions, including acquiring 97 multifamily rental buildings representing more than 22,000 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.
Contact Us
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Alex Collins
alex@westernwealthcapital.com
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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.
