Canada's Western Wealth Capital continues rapid U.S. market expansion in Texas with two multi-family acquisitions totaling 939 units in Dallas and Houston

Janet LePage

North Vancouver, Canada  – Western Wealth Capital (WWC), a growth-oriented real estate investment company, is pleased to announce the acquisition of two multi-family residential communities in Dallas and Houston, Texas. The acquisition further increases the company’s U.S. rental portfolio.

The properties include:

1. Las Colinas Heights Apartment Homes, 3701 North O’Connor Road, Irving, TX 75062
2. Central Park Apartment Homes, 3230 South Gessner Road, Houston, TX 77063

WWC and its investor partners purchased the 939 multi-family apartment units on August 15. The acquisition is WWC’s 5^th in Dallas and 7^th in Houston. 

Central Park Apartment Homes, 3230 South Gessner Road, Houston, TX 

WWC has acquired 65 multi-family properties in the U.S., with most purchases completed in the last three years. WWC is Phoenix’s second largest multi-family owner-operator by both number of buildings and units.

Built in 1980 and1976, most apartment units still retain original interior features, providing substantial value-add opportunities such as interior upgrades and in-suite washer/dryer installations. 

In addition, rents are disparate among like-units and well below the immediate competitive set average.

Las Colinas Heights Apartment Homes, 3701 North O’Connor Road, Irving, TX 

WWC has identified Dallas and Houston as meeting all of the attributes of its business strategy. WWC believes Dallas and Houston’s job and population growth are driving both vacancy rates and rental prices in an environment with a large inventory of undervalued and under-performing multi-family properties.

“Houston and Dallas currently rank in the top five cities for both job and population growth in the U.S. and we believe now is the perfect time to invest and create value in these markets,” says WWC CEO Janet LePage.

WWC has developed a proven, reliable system for investing in multi-family properties in key real estate markets across the U.S. WWC offers Investment Partners the opportunity to invest in cash-flowing properties with substantial value-add opportunities. 

Since inception, WWC has successfully completed over $1.8 billion in real estate transactions.

Clint Duncan 

To date, WWC has acquired 65 multi-family rental buildings, representing a total purchase price value of $1.3 billion and more than 13,900 units. 

Our current portfolio, net of divestments, includes 46 multi-family unit rental buildings (more than 11,000 units).

The acquisition was brokered by Newmark Knight Frank (NKF) and Clint Duncan and Matt Phillips with CBRE’s Multifamily Team in Houston, Texas.

About Western Wealth Capital

Matt Phillips

We have a singular focus: create wealth through well-selected real estate investment.

 We acquire underperforming multi-family rental properties and increase net operating income and valuation through an approach that has been successfully applied across our entire portfolio. 

Our vision is to build wealth for our investment partners with industry-leading returns.

CONTACT:

Alison Walsh, PR Account Supervisor

The Ferraro Group Phoenix

120 N. 44^th St. #310

Phoenix, AZ 85034

www.TheFerraroGroup.com

c. 602.741.0866

www.westernwealthcapital.com