DALLAS, Texas — Western Wealth Capital (WWC) announces the closing of its 130th real estate acquisition – Park Place Townhomes in Euless, Texas. This is Western Wealth Capital’s 22nd multifamily acquisition in the Dallas-Fort Worth market.
WWC and its investment partners closed on the 97-unit multifamily community of Park Place Townhomes. The transaction was advantageously purchased off-market with the assistance of Brian Murphy of Newmark Dallas. StepStone Real Estate (“SRE”), the real estate arm of private markets investment firm StepStone Group (Nasdaq: STEP), is a major equity partner in the transaction. Park Place is a follow-on investment into an existing WWC/SRE joint-venture initiated by a broader GP-led portfolio recapitalization in 2024.
Built in 1980, Park Place Townhomes features spacious two-story units with an average size of 1,116 square feet, offering residents a comfortable and well-designed living experience. As part of the acquisition, WWC assumes a 3.07% fixed-rate mortgage from the previous owner, resulting in an estimated $1.6 million in interest savings over the loan term compared to current market rates. The loan assumption was handled by Katie Runyan of Walker & Dunlop.
This Dallas-area acquisition strengthens WWC’s presence in the U.S. multifamily housing market and reflects the firm’s disciplined investment approach. Ideally situated between Dallas and Fort Worth, the property is just six minutes from Dallas-Fort Worth International Airport and within close proximity to major employers such as American Airlines headquarters, Lockheed Martin, and AT&T Stadium—all reachable within a 23-minute drive.
“This acquisition comes at an opportune time in the market cycle,” said Jay O’Connor, Vice President of Acquisitions at WWC. “We’re acquiring this asset at 42% below current replacement cost, which presents a compelling opportunity for equity growth and attractive returns.”
Doug Mather, WWC’s Chief Investment Officer, echoed this sentiment: “We’re seeing clear buying signals in the market, with property values down 30–40% from their peak, rent growth poised to rebound, and job growth remaining strong. Park Place Townhomes offers a rare chance to invest near the bottom of the market in a highly desirable product located in a prime area.”
About Western Wealth Capital
WWC has developed a proven system for investing in multifamily properties in key real estate markets across the U.S. WWC offers investment partners the opportunity to invest in properties with substantial value-add opportunities. Since its inception, WWC has successfully completed more than $6.4 billion in real estate transactions, acquiring 130 multifamily assets representing more than 29,000 total units.
WWC’s vision is to build wealth for its investment partners with exceptional returns. A people-first approach promotes excellence at every point, with highly efficient operations and a true commitment to our communities. The company’s current portfolio of assets under management includes 35 multifamily rental buildings across five different U.S. metropolitan areas located in the Sun Belt region.