Western Wealth Capital Acquires Two Multifamily Properties in Tennessee

Growth-oriented multifamily real estate investment company enters the Tennessee market with a two-property LIHTC portfolio.

Phoenix, Arizona (October 26th, 2026) – Western Wealth Capital (WWC) announces the closing of its 131st real estate acquisition – the Tennessee Two-Pack, comprising River City North Apartment Homes in Chattanooga, Tennessee, and Meadow Creek Apartment Homes in Goodlettsville, Tennessee, just north of Nashville.

WWC and its investment partner, FSO Capital Partners (FSO), closed on the 192-unit portfolio for a purchase price of $20,725,000. The transaction was brokered by Taylor Froland of CBRE. WWC is partnering with FSO Capital Partners for its expertise in Low-Income Housing Tax Credit (LIHTC) investments. FSO Capital Partners is focused on multifamily assets throughout the U.S. Sunbelt, with a current emphasis on Class B and C and LIHTC properties.

Built in 2007, River City North is located at 3825 Hixson Pike in Chattanooga and features 108 units across four buildings, with an average unit size of 1,074 square feet in a mix of two- and three-bedroom floor plans. Meadow Creek, built in 2003 and located at 919 S Dickerson Pike in Goodlettsville, offers 84 units across eight buildings, with an average unit size of 1,063 square feet, also in two- and three-bedroom layouts.

River City North is financed with an $8.47 million loan at a 6.17% fixed rate with five years of interest-only payments, while WWC assumed Meadow Creek’s existing $7.79 million mortgage at a 4.60% blended rate. Financing was arranged by Brian Mumaw and Brian Liu of Northmarq.

Both communities currently operate under Section 42 LIHTC Land Use Restriction Agreements (LURAs), which hold rents below market levels.

“The Tennessee Two-Pack marks an important evolution in our acquisition strategy, expanding our focus beyond traditional value-add opportunities to include a different class of investments that offer the potential for returns beyond those typically available through conventional value-add investments in the current environment,” said Janet LePage, Founder and CEO of WWC.

Jeffrey Sherman, Principal at FSO Capital Partners, added: “We are excited to add these communities to our growing LIHTC portfolio. Having experienced strong performance within this asset class, we see significant opportunity in Tennessee’s dynamic and rapidly expanding markets. With Nashville leading the nation in advanced-industry job growth and Chattanooga experiencing exceptional population and housing demand, we believe these assets are well-positioned to benefit from the region’s continued economic momentum.”

About Western Wealth Capital  

WWC has developed a proven system for investing in multifamily properties in key real estate markets including Phoenix, Dallas, Atlanta, Las Vegas, Tucson, and now Tennessee. WWC offers investment partners the opportunity to invest in properties with substantial value-add opportunities. Since its inception, WWC has successfully completed more than $6.4 billion in real estate transactions, acquiring 131 multifamily assets representing more than 30,000 total units.

WWC’s vision is to build wealth for its investment partners with exceptional returns. A people-first approach promotes excellence at every point; with highly efficient operations and a true commitment to our communities. The company’s current portfolio of assets under management includes 35 multifamily rental buildings across six different U.S. metropolitan areas located in the Sunbelt region. 

About FSO Capital Partners

FSO employs a disciplined acquisition approach with strict investment criteria and targeted returns. The company’s principals have over 48 years of combined commercial real estate experience, including investment, syndication, brokerage, property management, and lending.

FSO’s principals have been involved in the ownership, asset management, or sale of over 368 properties with a combined market value in excess of $1.7 billion. FSO currently manages over $450 million of assets, consisting of approximately 3,500 units.

Contact Us 

info@westernwealthcapital.com  

Disclaimer: 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.