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New Western Enters Pittsburgh Residential Real Estate Market with Eye on Revitalizing $385M Affordable Homes

·3 min read

Company Expands its Footprint with its Second Office Location in Pennsylvania

PITTSBURGH, July 11, 2022 /PRNewswire/ -- New Western, the largest national private source of distressed residential investment properties, announced today the opening of its second Pennsylvania office, located in Pittsburgh. This is the 47th office opening for the real estate marketplace connecting local investors looking to rehab houses with sellers.

New Western Logo (PRNewsfoto/New Western)
New Western Logo (PRNewsfoto/New Western)

"Pittsburgh is a rapidly growing market with more affordable housing compared to other cities across the U.S., which is driving many young adults and investors to become a part of this booming city," said Kurt Carlton, co-founder and president of New Western. "We are excited to have a presence in Pittsburgh, and have the ability to bring potential opportunities to investors, sellers and home buyers alike."

New Western brings market insight and its exclusive marketplace of distressed investment property inventory to help real estate investors acquire fixer-upper properties. The company's agents are helping to address the affordable housing shortage by revitalizing distressed homes across the U.S., with more than 991,000 aged properties in the Pittsburgh area alone and just over 91% built before 2002. A recent report analyzing U.S. Census data shows there are 16 million vacant homes across the U.S.

Nasar Bhegani is the general manager (GM) and broker leading the company's Pittsburgh office. As GM, Bhegani is responsible for recruiting, hiring, training and leading his team to revitalize $385 million in residential properties in the Pittsburgh area over the next five years.

"After a successful track record in Austin, I'm looking forward to joining the Pittsburgh community and helping provide much-needed housing inventory to local investors," said Bhegani. "With median home prices in the metropolitan area of Pittsburgh increasing year-over-year, my team will have the unique opportunity to help revitalize the city's distressed housing inventory and return affordable housing options to the market."

Bhegani began his career with New Western in 2015 in its Austin office and served as the assistant general manager, where he successfully led market sales totaling more than $788 million for the past five years. In 2022, New Western asked Bhegani to open its Pittsburgh office. The new office is located at 322 North Shore Drive, Building 1B, Suite 200, Pittsburgh, Pennsylvania.

New Western is the largest private source of investment properties in the nation. Since 2008, New Western has bought and sold nearly $12 billion in residential real estate.

About New Western

New Western makes real estate investing more accessible for more people. Operating in most major cities, our marketplace connects more than 100,000 local investors looking to rehab houses with sellers. As the largest private source of investment properties in the nation, we buy a home every 13 minutes. New Western delivers new opportunity for all—a fresh start for sellers, exclusive inventory for investors, and affordable housing for buyers. For more information, visit www.newwestern.com.

 

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Cision

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SOURCE New Western