The latest news from Westplan Investors.
- Published on Wednesday, 12 June 2019 10:39
Following the successful development and $69.5M sale of Accent Bellevue, Westplan Investors broke ground on another apartment development in Nashville, Tennessee. The new project will consist of 282 apartments on 8 acres of land located along the west side of Great Circle Road in the Metrocenter submarket of Nashville just 3 miles north of Downtown Nashville.
- Published on Tuesday, 23 April 2019 11:01
The doors are now open on Westplan’s newest lease up. Located in the sought-after Morningside neighborhood, Accent Morningside provides the ideal location for those working in Buckhead, Midtown, & Emory. The property consists of 239 units with surface parking. Residents will be privy to a host of services including door-to-door trash and recycling, 24-hour parcel lockers, dry cleaning, electric car charging stations and more.
- Published on Friday, 09 November 2018 16:31
On September 14th, Westplan Investors successfully closed the sale of District at Mountain Vista, a 384-unit, garden-style asset located outside Phoenix, AZ. Cortland Partners purchased the property. Westplan originally invested in the deal in 2008 as the LP equity and took over as GP when the deal was recapitalized in 2011. Since then average in-place rents have increased approximately 5% per year. YTD 2018 NOI annualized is 60% higher than the 2011 annual NOI.
Westplan’s CEO, Ewoud Swaak says “Thanks to our investors that had the confidence and vision in the market and our capabilities, we were able to recapitalize many of our pre-recession properties and have been able to generate a very attractive return”.
- Published on Wednesday, 17 October 2018 10:12
In December 2017, Westplan closed the latest sale of three assets built in the current development cycle. The three 300+ unit properties were located in Atlanta, GA, Nashville, TN and Savannah, GA. The total value of the transactions was $206,000,000 and investors earned an average 1.94x equity multiple.
- Published on Monday, 15 October 2018 10:10
Westplan Residential Development Fund (WRDF) was formed in 2008 and provided equity for development and purchase of 10 multifamily properties located throughout the southeast.
- Published on Wednesday, 31 January 2018 15:12
Atlanta, Georgia – Westplan broke ground in January 2018 on Accent Lakewood Apartments, which will be a 200 unit apartment and townhome community in Athens, Georgia. Apartment homes will be available for occupancy in December 2018.
- Published on Friday, 05 May 2017 11:51
ATLANTA, GEORGIA – Westplan has recently started construction on Accent 2050 Apartments and Accent Morningside Apartments in Atlanta, GA.
- Published on Wednesday, 30 March 2016 07:40
ATLANTA, GEORGIA – Westplan has recently started construction on Accent Bellevue Apartments which will be a 322-unit apartment community in Nashville, TN.
- Published on Wednesday, 14 October 2015 07:26
ATLANTA, GEORGIA – Westplan announces plans to re-develop 40 Forsyth Street in downtown Atlanta. The new mixed use 4 story building will replace the current building and will accommodate extensive retail and activity space on the street level.