Western Wealth Capital’s total number of acquired multi-family units surpasses 8,800

Company acquires Woodstream Village Apartments for $20.6 million

North Vancouver, Canada (August 29, 2018) – Western Wealth Capital (WWC), a growth-oriented real estate investment company, is pleased to announce the acquisition of Woodstream Village Apartments, a multi-family residential community in Mesa, Arizona that further increases the company’s U.S. rental portfolio.

WWC and its investor partners purchased the 156-unit multi-family building for $20.6 million (all figures $US). The acquisition is WWC’s 42nd in the Phoenix area. WWC has acquired 46 multifamily properties in the U.S. to date, with most purchases completed in the last three years. WWC is Phoenix’s second largest multifamily owner-operator by both number of buildings and units.

Woodstream Village Apartments were built in 1982, with the majority if units still retaining their original interiors, which provides WWC with the opportunity to implement their value-add program. In addition, rents are disparate among like-units and well below the immediate competitive set average. The vintage garden-style community is located in Mesa, Arizona and offers one and two-bedroom apartments with a convenient lifestyle for residents. Strategically located near two major freeways, the community’s ideal location in Mesa provides residents with easy access to every city in the Metro Phoenix area.

WWC believes Phoenix remains a strong investment environment as the company expands it disciplined model nationally in the U.S. WWC’s portfolio also includes four Texas multifamily properties acquired this year.

“We remain bullish on Phoenix because the economic underpinnings of GDP, employment and population growth are still strongly evident. Owing to our disciplined approach and track record, we have strong industry relationships that continue to give us access to some of the best multifamily investment opportunities,” says WWC CEO Janet LePage.

WWC has a proven six-stage strategy. They 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.

Since its inception in 2011, WWC has acquired 46 multifamily rental buildings, representing a total purchase price value of $788 million and more than 8,800 units. Their current portfolio, net of divestments, includes 32 multifamily unit rental buildings (more than 6,600 units).

The acquisition of Woodstream Apartments was brokered by ARA Newmark.

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, San Antonio and Houston markets. Our execution and results have formed strong relationships that give us access to some of the best multifamily investment opportunities in the U.S.

Media and photo requests:
Meghan Kerr
meghan@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.