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Western Wealth Capital acquired an apartment in Houston.
6.2.5
Western Wealth Capital acquired an apartment in Houston.
6.2.5
Figure: Loop image / UIG via getty image
Western Wealth Capital acquired an apartment in Houston.
6.2.5
Western Wealth Capital acquired an apartment in Houston.
6.2.5
Figure: Loop image / UIG via getty image
Western Wealth Capital of Canada expanded the US multi-generational portfolio by acquiring a total of three 940 Houston apartment complexes.
Houston's job and population growth, along with a large inventory of undervalued and undervalued multi-family assets, fits the company's investment strategy.
Janet LePage, Chairman of WWC, said, “Houston is a market we've been monitoring for quite some time, and I believe it's a great time to create value in this market.
Related: multiCatland's Houston portfolio surpasses 7,000 with Canada's multigenerational acquisition
The deal, which closed on September 27, totaled $ 1.4 billion by acquiring Western Wealth Capital and its acquisition of over 68,800 properties across the United States.
The company acquired 10 apartments in the Houston market.
The seller and location of the three real estate recently purchased were not disclosed. According to buyers, the complex was built in 1983 and mostly has rents below the original interior and market. This characteristic is a candidate for improvements such as internal upgrades and installation of a washer / dryer within the suite.
The deals were brokered by David Wylie and Matt Saunders of Newmark Knight Frank, Jennifer Ray and Ryan Epstein of Berkadia, Chris Curry of HFF (now JLL), Todd Marix, Chris Young and Joey Rippel.