A partnership between Wealhouse Capital Management and Western Wealth Capital received $185.63 million for the acquisition of a 1,439-unit portfolio of five multi-housing properties in and around Phoenix.
The portfolio comprises the Carlyle Apartments and the Carlyle Townhomes in Phoenix; Greentree Place and Autumn Creek in Chandler; and Spring Meadow in Glendale. The properties are garden-style and were constructed between 1981 and 1996 and feature a range of amenities, including resort-style pools, clubhouses, fitness rooms, basketball courts, valet trash service, green areas and dog parks. The assets are situated in excellent locations throughout metropolitan Phoenix, which is the nation’s No. 1 multi-housing market in terms of historical and projected rent growth.
“Wealhouse is happy with our continued investments in initiatives that bring benefits to the tenants such as upgrading the energy efficiency of the properties and improving ESG,” said Scott Morriso
