Monday, October 19, 2020

Western Wealth Capital purchases 659-unit apartment community in Tempe, AZ

 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.

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

www.TheFerraroGroup.com

c. 602.741.0866

 

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