Western Wealth Capital Expands Dallas Footprint
The property will undergo a value-add improvement program.
Embry Apartment Homes
Western Wealth Capital has acquired the 151-unit Embry Apartment Homes in Carrollton, Texas. The transaction marks the company’s 21st multifamily deal in Dallas-Forth Worth and its 130th real estate deal overall. The property last traded in 2019, when Lion Real Estate bought it from Upland Residential alongside another multifamily asset, according to Yardi Matrix.
Embry Apartment Homes is located at 2210 Marsh Lane and encompasses one- and two-bedroom units between 713 and 1,200 square feet. The 23-building asset was constructed in 1985 and had additional units added in 1995. Common-area amenities include two swimming pools, a fitness center and 300 parking spots.
The community is located 6.6 miles from University of Texas at Dallas, 9.7 miles from Legacy West, a large mixed-use center home to some of the largest employers in the area, including JPMorgan Chase, FedEx, Toyota and Liberty Mutual Insurance.
Western Wealth Capital Senior Director of Acquisitions Jay O’Connor said, in a prepared statement, the company will implement a value-add program at Embry Apartment Homes. The company’s improvement strategy is focused on upgrading both the interior and exterior of communities. Western Wealth Capital has closed more than $5.3 billion in real estate acquisitions, according to the company, with its multifamily portfolio surpassing 29,000 units.
Earlier this year, in April, Western Wealth Capital acquired another North Dallas-area property, Villas at Chase Oaks in Plano, Texas, a 250-unit multifamily asset.
