A Texas Multifamily Overview: Q&A with Westmount’s Brant Brown

Brant Brown, COO and CFO of Westmount Realty Capital LLC in Dallas, is one of the speakers at today’s Connect Texas Multifamily Conference. He recently answered questions put to him by Connect Media concerning Westmount’s take on the Texas multifamily market, and how the sector looks moving into 2020.

Q: What kinds of multifamily projects is Westmount currently looking at investing in, and why?
A: We are actively looking for value-add and opportunistic multifamily investments throughout Texas and the Southwest. Specifically, Class C+ to Class A multifamily properties in locations with a strong economy and steady job growth. Over the past 30 years, we have seen success with this type of product, and have been able to increase the value of these properties through interior and exterior upgrades, amenity offerings and improved on-site management. We have grown our multifamily portfolio by 1,600 units over the past two years, but recently, these deals have been tougher to find in certain Texas markets. The Dallas and Houston markets are getting increasingly competitive, while the San Antonio market still seems to be flying under the radar a bit. We are having a good 2019 to date, having closed three transactions and are under contract on a fourth. We would love to carry this momentum through the end of the year and finish out with 6-8 transactions.

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