WWC Expands Footprint in San Antonio
- Jan 17, 2018
Western Wealth Capital (WWC) acquired Sedona Canyon, a 296-unit multifamily property located in northeast San Antonio. The deal marks the company’s third acquisition in Texas since its entrance in the market late last year when the company acquired two multifamily assets from a private equity group.
The 39-building community occupies more than 10 acres at 4620 Thousand Oaks Drive. The property was sold for $19.6 million, subject to a $14.4 million loan held by Freddie Mac. According to Yardi Matrix data, the seller was McDowell Properties. ARA, a Newmark Co., brokered the transaction with WWC focused on improving the quality of the property while providing strong returns to investors.
Sedona Canyon is located within a five-mile radius of approximately 133,500 jobs, linked by I-35, Loop 1604, I-410, Highway 281 and the recently extended major thoroughfare Wurzbach Parkway. The unit mix at the community comprises one- and two-bedroom floorplans ranging from 517 to 917 square feet. Interiors feature vaulted ceilings, dual-pane glass, private balconies/patios, outside storage, washer/dryer connections and fireplaces in the larger units. Common area amenities include a fitness center, tennis court, basketball court, two swimming pools, spa, two laundry facilities and 602 parking spaces.
“Our focus is wealth creation that provides the lowest risk exposure for our investor partners. Our precise sweet spot is multifamily rental properties that require only prudent capital investment and operational efficiencies to unlock significant value,” Janet LePage, WWC CEO & co-founder said in a prepared statement.
Photos courtesy of Yardi Matrix