Westmount Realty Capital announced the acquisition of 949 at the District, a 154-unit multifamily community located at 949 South Longmore St. in Mesa, near Phoenix. Built in 1979, 949 at the District offers one- and two-bedroom floorplans that average 825 square feet. Westmount will rebrand the property as Westmount at the District. This deal marks the real estate investment company’s first acquisition in Arizona and first multifamily purchase outside of Texas.
“Westmount has been tracking the Phoenix market for years and 949 at the District presented us with the opportunity to enter the region with the acquisition of a well-constructed, vintage multifamily property with a substantial value-add potential,” said Michael Anderson, managing director of multifamily acquisitions for Westmount. “We plan to revitalize the community with interior renovations, smart home offerings, upgrades to the amenity package and improved on-site management.”
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