Canadian real estate investment company Western Wealth Capital revealed that the company has purchased The Brandt, an apartment complex in Irving, Texas, for $48 million.

The asset, located at 3950 N. Story Road between the Cottonwood Valley golf course and Cottonwood Creek Park, consists of one- and two-bedroom apartments in 34 three-story buildings, completed in 1984 on a 10.7-acre site.

Western Wealth Capital bought the 504-unit property, which was 93.1 percent occupied as of May, from U.S. multifamily real estate investment manager InterCapital Group.

Western Wealth Capital plans to implement a value-added improvement program at the property over the next five years, including upgrading unit interiors and adding washers and dryers to most interiors.