Western Wealth Capital Acquires Villetta Apartment Homes in Mesa, Arizona
June 16, 2022
Growth-oriented multifamily real estate investment company acquires fifteenth property in Mesa, Arizona, part of the emerging Greater Phoenix tech hub
North Vancouver, Canada (June 16th, 2022) – Western Wealth Capital (WWC) announces the closing of its 127th real estate acquisition – Villetta Apartment Homes in Mesa, Arizona. This is Western Wealth Capital’s 79th multifamily acquisition in the Phoenix market.
WWC and its investment partners closed on the 352-unit multifamily apartment community of Villetta Apartment Homes, originally constructed in 1983. This Phoenix-area deal further solidifies WWC’s footprint in the U.S. multifamily housing market and follows WWC’s disciplined investment criteria.
Villetta is located in Mesa, a vibrant city east of Phoenix ranked as one of the best places to live in Arizona. Villetta is easily accessible to both Downtown Phoenix and Downtown Tempe in under 30 minutes. Notably, 17-minutes to the southwest, Intel’s largest manufacturing site globally is part of the emerging Greater Phoenix tech hub – one of the fastest growing and most dynamic regions in the U.S.
Villetta presents a highly sought-after investment opportunity for Western Wealth Capital’s interior and exterior value-add programs. Many of the interiors are in true ‘classic’ condition and have not been upgraded since the property’s completion in 1983. The property amenities have recently been upgraded but have not yet achieved their full income producing benefit.
“We are very pleased to have acquired this property in a market that is showing strong population growth. We look forward to beginning immediate property improvements and executing our business plan for Villetta,” says Doug Mather, WWC’s Executive Vice President.
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 $5 billion in real estate transactions, acquiring 127 multifamily assets representing more than 29,000 total units.
WWC’s vision is to build wealth for its investment partners with exceptional returns. A people-first approach promotes excellence at every point; with highly efficient operations and a true commitment to our communities. The company’s current portfolio of assets under management includes 72 multifamily rental buildings, totaling more than 18,000 units.
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.
