Western Wealth Capital’s total number of acquired multifamily units surpasses 7,000

Acquisition of Villatree in Tempe, AZ continues company’s scalable growth

North Vancouver, Canada (Feb. 12, 2018) – (all figures $US) – Western Wealth Capital (WWC), a growth-focused real estate investment company, is pleased to announce the acquisition of Villatree, a multifamily residential community in Tempe, Arizona that increases the company’s total number of acquired rental units to more than 7,000.

WWC has grown its southwestern U.S. rental portfolio at both scale and pace by adhering to a precise investment and operations strategy that provides consistent investor returns and improves communities.

The acquisition of Villatree represents the company’s 39th multifamily community purchase (7,037 total units) since its inception in 2011. However, the majority of acquisitions were completed in the last three years, highlighting the company’s execution strength and access to opportunities.

Three-year acquisition snapshot
Year              # Acquisitions     Purchase price (US$)        #Units
2017                12                            $210.5M                   2,568
2016                 9                             $160.7M                   1,954
2015                 9                             $116.5M                   1,386
Total                30                            $487.7M                   5,908

“Our mantra is repeatability creates scalability,” says Janet LePage, CEO of WWC. “By remaining disciplined to a model that works, we’ve built a strong reputation with commercial property brokers, financial institutions and property management companies. And we’ve built out our own bench strength prudently. Together with our investor partners we are strongly positioned for continued growth.”

WWC purchased Villatree, a 150-unit multifamily building, for US$17.35 million. Villatree is located close to Loop 101 and Broadway Road, and within proximity of major employers, including Arizona State University, State Farm and the Phoenix airport. Built in 1980, Villatree provides excellent value-add opportunities for updating units and community amenities, and normalizing rents to market rates to increase net operating income and the value of the property.

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.

To date, the purchase price value of all WWC acquisitions is $536.4 million. Our current portfolio, net of divestments, includes 28 multifamily unit rental buildings (5,356 units).

WWC is the second largest multi-family owner in the Phoenix area by number of units and is currently growing its footprint in Texas.

The acquisition of Villatree was brokered by Marcus & Millichap.

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.