Western Wealth Capital has acquired Villas at Chase Oaks Apartment Homes, a 250-unit community in Plano, Texas. The property last changed ownership in 2019, when VCT Capital Partners bought it from Guggenheim Investments for $29.4 million, Yardi Matrix data shows.
Spanning 14 acres, the 1986-built community encompasses 20 buildings with one-, two- and three-bedroom apartments, varying from 670 to 1,290 square feet. Community amenities include a fitness center, clubhouse, tennis, volleyball and basketball court, swimming pool and spa. The property will be part of WWC’s value-add program, which includes interior and exterior upgrades.
Located at 600 Legacy Drive, the community is within half a mile of numerous green areas, including John Clark Stadium, Enfield Park and Plano High Point Park. Various retail options, such as a Walmart Supercenter and 99 Ranch Market, are within a mile of the property. The DART Rail Station is 4 miles away, offering residents access to the Telecom Corridor, one of the major employment hubs in Dallas.
Dallas registered solid fundamentals, with a 17.7 percent annual rent growth in February, remaining a strong market for investors. The community marks WWC’s 20th acquisition in the market, with the firm’s portfolio now holding 72 properties and some 17,000 units. Recently, WWC acquired Tucson V, a portfolio totaling 880 units in Tucson, Ariz., for $130 million.