Western Wealth Capital Acquires Forest Ridge in Marietta, Georgia
December 22, 2021
Growth-oriented multifamily real estate investment company continues its expansion in Marietta, Georgia
North Vancouver, Canada (December 22nd, 2021) – Western Wealth Capital (WWC) announces the closing of its 115th multifamily real estate acquisition – Forest Ridge Apartment Homes in Marietta, Georgia. This is Western Wealth Capital’s 7th multifamily acquisition in Georgia.
WWC and L+M Fund Management (L+M) closed on the 406-unit multifamily apartment community of Forest Ridge Apartment Homes, originally constructed in 1983. This Marietta-area deal further solidifies WWC’s footprint in the U.S. multifamily housing market and follows WWC’s disciplined investment criteria.
Forest Ridge marks the 1st acquisition L+M , L+M Development Partners’ independent investment management business, and WWC have acquired together.
Forest Ridge is located in Marietta – a rapid growing city in northwest metro Atlanta, known for its dynamic, wealthy, and developed suburbs. Marietta has consistently ranked among top U.S. metro areas for both population growth and job creation. The submarket features jobs in healthcare, education, manufacturing, military, retail, and corporate offices. The Platinum Triangle generates approximately 150,000 jobs and boasts 29 million square feet of office space. The property is nearby high-profile corporations including headquarters of GE Energy, Home Depot, and NAPA Genuine Parts.
This property is a prime candidate for WWC’s repeatable value-add program, including exterior and interior renovations, most units have washer/dryer connections ready to be activated with machines.
“Atlanta’s economic and tech sector growth makes a strong case for why investors should continue to consider investing in Atlanta’s multifamily market,” says Len Bravo, Director of Acquisitions and Asset Management at WWC. The lack of supply within high-growth cities like Atlanta will continue to see an increase in rental rates, especially within multifamily communities that provide higher-end renovated units with luxury amenities. WWC prides itself in making significant capital investments into each community it purchases which drives value for its investors.
WWC has acquired 117 multifamily rental buildings, representing $3.2 billion in acquisitions. The company’s current portfolio of assets under management includes 65 multifamily rental buildings totaling 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 billion in real estate transactions representing more than 26,000 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
For more information:
604.260.4789
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.
