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Investment Firm Buys Six Properties in as Many Weeks

PHOENIX—Western Wealth Capital now owns 21 multifamily properties and 3,487 units in the Phoenix area, with the Greater PHX IV Portfolio.

Penny Lane Penny Lane was developed in Mesa, AZ in 1985 featuring 136 units.

PHOENIX—A rental property investment firm has been on a buying spree during the past few months, indicating it is bullish on the Valley. The Greater PHX IV Portfolio, a four-property, 748-unit, real-estate-owned portfolio located in Phoenix and Mesa, AZ has sold to Western Wealth Capital LTD, a Vancouver, Canada-based multiple-unit rental property investment firm. The total sales price for the portfolio is $41.5 million.

Janet LePage, a founder of Western Wealth Capital, tells GlobeSt.com: “The Greater PHX IV Portfolio broadens our investment in Phoenix, coming on the heels of two other transactions in the last five weeks. Our approach is to identify cash-flowing properties with attractive risk/return profiles, strong fundamentals and the potential to increase the property value. We see the Phoenix area as providing a significant return on our investment.”

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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