Western Wealth Capital Acquires The Rev Apartment Homes in Tempe, Arizona
March 2, 2022
Growth-oriented multifamily real estate investment company continues its Arizona expansion in growing Tempe
North Vancouver, Canada (March 2, 2022) – Western Wealth Capital (WWC) announces the closing of its 119th real estate acquisition – The Rev Apartment Homes in Tempe, Arizona. This is Western Wealth Capital’s 77th multifamily acquisition in the Phoenix market.
WWC and its investment partners closed on the 172-unit multifamily apartment community of The Rev Apartment Homes, originally constructed in 1972. This Phoenix-area deal further solidifies WWC’s footprint in the U.S. multifamily housing market and follows WWC’s disciplined investment criteria.
The Rev is located in Tempe – a popular city for young and affluent professionals with numerous tech employers, unique neighborhoods, diverse restaurants, and a great music scene. Its economic environment has attracted top research firms and Fortune 500 companies including Honeywell, Amazon, and Allstate.
The Rev presents a highly sought-after investment opportunity for Western Wealth Capital’s interior and exterior value-add programs. The previous owners have upgraded some property amenities including the fitness center and leasing center but have neglected several central courtyards ideal for new BBQ and lounge areas. There are a number of ground floor units suitable for the addition of private backyards and a large pool deck provides ample space for new furniture and resort-style features.
”We are thrilled to acquire this property, as Phoenix has shown strong rent growth and a huge influx of tech companies moving to the area,” says Doug Mather, WWC’s Executive Vice President. “We look forward to beginning immediate property improvements and providing upgraded housing options for The Rev’s residents and positive returns for investors.”
WWC has acquired 119 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.
Contact Us
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Alex Collins
alex@westernwealthcapital.com
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.
