Purchase of San Antonio’s Sedona Canyon adds 296 units to portfolio

North Vancouver, Canada (Jan. 9, 2018) – Western Wealth Capital (WWC), a growth-oriented real estate investment company, is pleased to announce the acquisition of Sedona Canyon, a multifamily residential community that further increases the company’s southwestern U.S. rental portfolio.

WWC purchased Sedona Canyon, a 296-unit multifamily building located in northeast San Antonio, for $19.55 million (all figures $US). The purchase represents the company’s third multifamily acquisition in Texas since formally entering this regional market late last year. On Nov. 16, WWC announced the purchase of Brynwood and Sereno Park multifamily buildings, which include 276 and 204 units, respectively.

Overall, the company’s purchase price value of its total transactions in Texas and Arizona is $519 million, the majority acquired in the last three years.

Sedona Canyon is identical to other investment opportunities where WWC has both improved the quality of communities and provided strong returns to investors, says WWC CEO and co-founder Janet LePage.

“Our focus is wealth creation that provides the lowest risk exposure for our investor partners. Our precise sweet spot is multifamily rental properties that require only prudent capital investment and operational efficiencies to unlock significant value,” says LePage.

WWC has identified San Antonio as meeting all of the attributes of its business strategy, which to date has previously been exclusively focused on Phoenix, where the company is currently the second largest multi-family owner by number of units. Similar to Phoenix, WWC believes San Antonio’s job and population growth are driving both vacancy rates and rental prices in an environment with a large inventory of undervalued and underperforming multifamily properties.

Sedona Canyon is located within a five-mile radius of approximately 133,500 jobs, linked by the nearby I-35, Loop 1604, I-410, Highway 281 and the recently extended major thoroughfare Wurzbach Parkway.  Approximately three quarters of Sedona Canyon units have washer/dryer connections but no installations; and the majority of the 1980s’ built community still retains original features. Normalizing rents is also an opportunity, as there is currently a significant disparity among units

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.

Since its inception in 2011, WWC has acquired 38 multifamily unit buildings, representing more than 6,800 units. Our current portfolio, net of divestments, includes 28 multifamily unit rental buildings (more than 5,400 units).

The acquisition of Sedona Canyon was brokered by ARA, a Newmark Company.

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.