Western Wealth Capital closes its largest Phoenix multifamily acquisition to date

Company purchases 552-unit Carlyle at South Mountain for $90 million

North Vancouver, Canada (Feb. 19, 2018) – Western Wealth Capital (WWC), a growth-focused real estate investment company, is pleased to announce the acquisition of Carlyle at South Mountain (Carlyle), a Phoenix multifamily residential community that further increases the company’s southwestern U.S. rental portfolio.

WWC acquired the 552-unit apartment and townhome community for $90 million, the company’s largest single purchase by number of units and dollar value, to date. Carlyle is WWC’s 40th acquisition (7,589 total units), with the majority transacted in the last three years. WWC’s investor partners in this acquisition comprised two private equity groups.

“Our company’s track record and consistent performance have created an earned reputation for Western Wealth Capital as a trusted investment sponsor,” says Janet LePage, CEO. “By remaining disciplined to our model, we are realizing opportunities for new levels of scalable growth.”

Carlyle is located on the I-10 corridor and within proximity to major employers like Intel campuses, Wells Fargo and Bank of America. Carlyle includes 360 apartment units and 192 townhome units built in 1996 and 1997, respectively. They are many opportunities to unlock value at Carlyle. Current rents at the property are well below those at comparable properties. In addition, most suites have not been updated from their original condition, presenting opportunities to further increase value.

WWC has a disciplined six-stage strategy. We acquire undervalued multi-family rental properties; carefully allocate capital to accretive improvements; optimize operations to increase the asset’s net cash flow and valuation; refinance to return equity to investors; and, when appropriate, divest.

To date, the purchase price value of all WWC acquisitions is $626.5 million. Our current portfolio, net of divestments, includes 29 multifamily unit rental buildings (5,908 units).

WWC is the second largest multi-family owner in the Phoenix area by number of units and is currently growing its footprint in Texas.

The acquisition of Carlyle was brokered by Cushman & Wakefield.

ABOUT WESTERN WEALTH CAPITAL

We have a singular focus: create wealth through well-selected real estate investment. We acquire underperforming multifamily rental properties and increase net operating income and valuation through an approach that has been successfully applied across our entire portfolio. We manage these assets, distribute resulting cash flow to investors and, when appropriate, divest. We only focus on markets underpinned by the economic fundamentals of population, employment and GDP growth. Our entry point is when these demand drivers place long-term pressure on vacancy rates and rental pricing. To date, we have invested in the Phoenix and San Antonio markets. Our execution and results have formed strong relationships that give us access to some of the best multifamily investment opportunities in the American Southwest.

Media and photo requests:
Glen Edwards
gedwards@national.ca

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.