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| Janet LePage |
TEMPE, AZ -- Wealth Capital (WWC), a growth-oriented real estate investment company, announced today the acquisition of Onnix, a 659-unit apartment community in Tempe, Ariz. at 1500 E. Broadway Road.
Onnix was originally
constructed in 1984 and features 38 apartment buildings, in addition to
abundant parking.
The community offers studio,
one- and two-bedroom apartments with
vaulted ceilings, oversized closets, private balconies or patios, granite
countertops in kitchens, wood-style flooring and stainless steel appliances.
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| Onnix apartments, Tempe, AZ |
Onnix amenities include four
resort-style pools with hammocks, barbeque grills, cabanas, a clubhouse
featuring a full kitchen, large screen TV, full-size pool table and
shuffleboard as well as a sauna, dog park, yoga studio, tennis courts and sand
volleyball courts.
The property is located
in Tempe, near Arizona State University (ASU), and some of the top employers in
the state.
“One goal of this
acquisition is to add value to the community as we maximize returns for
investors and create an even better place to live for residents," said WWC
CEO Janet LePage.
"Upgrades are planned for the property’s common areas to heighten their usability and desirability, which is part of the partnership’s focus on community engagement and resident programs. We are thrilled to add Onnix to our growing national portfolio.”
The property is located
minutes from downtown Tempe – home to ASU, the largest university in the
country with total enrollment of 111,000 students, and Mill Avenue District,
with more than 100 restaurants, shops and arts and entertainment venues.
Notably, Tempe has recently benefitted from
unprecedented job creation, as financial services and technology companies
relocate into the market.
The acquisition further
increases WWC’s U.S. rental portfolio, which comprises real estate in Houston,
Dallas, Phoenix, Atlanta and San Antonio.
The acquisition also marks WWC’s 54th acquisition in
the Phoenix market. WWC has acquired more than 77 multifamily properties in the
U.S., with most purchases completed between 2016 and now.
CONTACT:
Alison Walsh
PR Account Supervisor
PR for WWC
The Ferraro Group Phoenix
120 N. 44th St. #310
Phoenix, AZ 85034
c. 602.741.0866
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