Western Wealth Capital Acquires Carlyle at South Mountain

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Western Wealth Capital Acquires Carlyle at South Mountain

A major sale went through for one of the valley’s most stunning communities.

Western Wealth Capital has acquired Carlyle at South Mountain, a massive 552-unit apartment and townhome community in Phoenix for a cool $90 million.

The transaction marks the company’s largest deal in both dollar value and units to date.

“Our company’s track record and consistent performance have created an earned reputation for Western Wealth Capital as a trusted investment sponsor,” CEO Janet LePage said.“By remaining disciplined to our model, we are realizing opportunities for new levels of scalable growth.”

Carlyle is the company’s 40th acquisition, and it includes 360 units and 192 townhomes, with current rents less than at nearby comparable communities. The properties both boast a variety of amenities including a swimming pool, BBQ pits, clubhouse, fitness centers, playground, meeting facilities, carports and garages, and parcel pending service.

Carlyle is conveniently located on the I-10 corridor, close to major employers like Intel, Wells Fargo and Bank of America. This purchase is the latest in WWC’s Arizona portfolio, and they are the second largest multifamily owner by number of units (7,589) in the Phoenix area.

 

The acquisition of Carlyle was brokered by Cushman & Wakefield.

WWC plans on renovating approximately 200 of the suites over the next three to five years, including refinishing and replacing cabinets and countertops, installing new carpet, flooring and appliances, and retouching paint jobs.

Please visit the official Western Wealth Capital website for more information.

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