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Canada-based Western Wealth Capital is continuing its multifamily shopping spree in Phoenix. After making its presence known in the area by swooping in on four properties earlier this year, the company is continuing to grow its portfolio, picking up two more investment properties for a total of $35M. The firm is now the third-largest multifamily owner in the Phoenix area,holding 21 properties, according to Yardi Matrix. In terms of units, it is the eighth-largest with 3,834 units.
“The Phoenix multifamily market continues to provide extensive opportunities,” says Western Wealth Capital founder Janet LePage. “By applying our unique value-add strategy and an understanding of the fundamentals of the market, Western Wealth Capital has been able to locate the strongest investments in the Phoenix area. We continue to be bullish in our acquisitions.”
Western Wealth’s two new properties are Arbors on 5th and Arcadia Walk (above). The former has 197 units near ASU, and the latter has 148 units and sits near the Arcadia Crossing shopping center. The properties cost Western Wealth $21.3M and $13.66M, respectively.
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