Western Wealth Capital Partners with StepStone for Portfolio Recapitalization

Western Wealth Capital (WWC), a real estate investment firm, announced a new partnership with StepStone Group Real Estate LP, triggered by the recapitalization of WWC's multifamily properties. This strategic move encompasses refinancing a portfolio of 10 assets across diverse locations, with one additional property pending, ensuring sufficient growth funding and maintaining operational stability.

This recapitalization marks a significant milestone for WWC, enabling future asset sales at optimal times. It involves a $200 million commitment by StepStone, facilitating near-term and future equity investments. WWC intends to leverage these funds to pursue opportunities in high-growth markets such as Phoenix, Las Vegas, Atlanta, and Dallas.

John Waters from SRE expressed that this partnership enhances their exposure to the multifamily sector alongside a capable manager. With Freddie Mac's involvement in financing nine properties under fixed-rate loans, WWC reinforces its market position while strategizing new investments in regions with rising housing demands.