Western Wealth Capital Moves Into Atlanta

The company acquired its first property in the area, with the $22 million purchase of the 200-unit community in the metro’s Jonesboro/Bonanza submarket.
Bridgewater at Mount Zion

Western Wealth Capital has entered the Atlanta multifamily market with its $22.3 million acquisition of the 200-unit Bridgewater at Mount Zion Apartments. The seller, InterCapital Partners, had purchased the asset in October 2016 for $16.6 million, according to Yardi Matrix.

The buyer recently expanded its footprint in the Phoenix metro area with the acquisition of a 146-unit community.

Located at 3156 Mount Zion Road in Stockbridge, Ga., the community is positioned near the intersection of Interstates 75 and 675, 20 miles south of downtown Atlanta in the Jonesboro/Bonanza submarket. A big-box retail center, home to Lowe’s, Office Depot and Kroger, is 1 mile away, adjacent to Xpress’ Stockbridge Commuter Park & Ride facility, which links the area with the city center.

The community, constructed in 1995, contains a mix of one- to three-bedroom apartments, offering floor plans from 908 to 1,390 square feet. A wide range of amenities are available on-site, including a fitness center, a business center, a swimming pool and volleyball and tennis courts.

Cushman & Wakefield’s Nathan Swenson and Tyler Averitt represented Western Wealth Capital in the transaction.

Image courtesy of Yardi Matrix