Western Wealth Capital Announces Purchase of $1 Billion in Properties for 2021
December 20, 2021
Western Wealth Capital Announces Purchase of $1 Billion in Properties for 2021
North Vancouver, Canada (December 20th, 2021) – Western Wealth Capital (WWC) announces the closing of its 114th multifamily real estate acquisition with the purchase of Tides on Main Apartment Homes in Mesa, Arizona. This is Western Wealth Capital’s 76th multifamily acquisition in the Phoenix metropolitan area. The company has now acquired approximately $1 billion in properties in 2021.
Now named Station 21 Apartment Homes, WWC and its investment partners closed on the 472-unit multifamily apartment community, originally constructed in 1985. This new name represents the property’s proximity to the light rail station, which is key to connecting the residents to jobs and downtown Phoenix. This Phoenix-area deal further solidifies WWC’s footprint in the U.S. multifamily housing market and follows WWC’s disciplined investment criteria.
Station 21 is located in Mesa, a vibrant city east of Phoenix and ranked as one of the best places to live in Arizona. Station 21 is easily accessible to both Downtown Phoenix and Downtown Tempe in under 25 minutes. Major employers are in all directions including Banner University Medical Center to the northwest and Arizona State University to the northeast.
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.
“We are thrilled to complete the acquisition of Tides on Main and achieve $1 billion total in annual acquisitions for the first time in Western Wealth Capital’s history,” says Jay O’Connor WWC’s Senior Director of Acquisitions in Phoenix. “We look forward to beginning immediate property improvements and increasing the asset’s value for both investors and residents.”
This deal was brokered by Matt Pesch of CBRE.
WWC has acquired 114 multifamily rental buildings, representing over $3 billion in total acquisitions since inception. The company’s current portfolio of assets under management includes 62 multifamily rental buildings totalling more than 16,000 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
Media and photo requests:
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.
