Western Wealth Capital Acquires Villetta Apartments in Phoenix, AZ
May 11, 2021
Western Wealth Capital completes their 96th multifamily real estate investment, the Villetta Apartment Homes
North Vancouver, Canada (May 11, 2021) – Western Wealth Capital (WWC), a growth-oriented real estate investment company, announces the closing of its 68th Phoenix-area real estate deal, continuing their robust growth in select U.S. multifamily housing markets.
WWC and its investment partners closed on the 352 multifamily apartment community of Villetta Apartment Homes, originally constructed in 1983, on May 11, 2021. This Phoenix-area deal further solidifies WWC’s footprint in the U.S. multifamily housing market and follows WWC’s disciplined investment criteria. The Villetta is WWC’s 96th acquisition since its founding in 2014. In addition to real estate investments in Dallas, Houston, Phoenix, Atlanta and San Antonio, WWC also entered the Las Vegas market in 2021.
Well-situated in the heart of Mesa, AZ, The Villetta Apartment Homes are southeast of downtown Phoenix and less than 4 miles from the Arizona State University campus. The nearly 426,000 jobs within the 10-mile radius, and easy proximity to the US 60, Loops 101 and 102 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.
“Despite having completed 68 deals in the Phoenix market, each one is still as exciting as the first,” says Doug Mather, Executive Vice President of Acquisitions at WWC. “The even bigger thrill is to now begin the property renovations to provide improved housing options to Villetta’s residents and positive returns for investors.”
WWC has acquired 96 multifamily rental buildings, representing $2.3 billion in acquisitions, a total transactional value of $2.9 billion and 21,800 total units. The company’s current portfolio of assets under management, includes 57 multifamily rental buildings totaling more than 15,200 units. The acquisition was brokered by Steve Gebing and Cliff David with Institutional Property Advisors.
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 $2.9 billion in real estate transactions, including acquiring 96 multifamily rental buildings representing more than 21,800 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.
