#United States #Neighborhood Ventures #Flagstaff #Route 66 #NV REIT

Neighborhood Ventures Expands Its Portfolio with Route 66 Acquisition

Neighborhood Ventures (NV), a noteworthy player in the real estate investment sector, has announced its latest strategic addition to its Real Estate Investment Trust (REIT). The acquisition revolves around Venture at Route 66, a 24-unit multifamily property that has recently undergone complete renovations and is situated at 1914 E Mountain View Ave., Flagstaff, Arizona. This property was acquired through a Section 721 UPREIT exchange, valued at approximately $5.5 million.

This acquisition marks a significant milestone for Neighborhood Ventures, bringing its total portfolio to four stabilized properties in Arizona, each designed to generate income for its investors. Venture at Route 66 stands out not only for its modern facilities but also for its prime location, merely five minutes away from downtown Flagstaff, offering not just rental opportunities but also appeal to both short-term and long-term tenants.

The unique structure of this deal allows original investors in the project to realize a preferred return rate of 12% while simultaneously rolling their ownership into NV REIT partnership units. This mechanism not only defers capital gains taxes but also provides these investors with continued exposure to future property appreciation, a win-win considering the stability of the Flagstaff market.

Jamison Manwaring, the Co-founder and CEO of Neighborhood Ventures, expressed enthusiasm over the deal. “This UPREIT exchange highlights how creative and tax-efficient structures can benefit both owners and investors,” stated Manwaring. He emphasized the robust demand for rental properties in Flagstaff, which is bolstered by supply constraints and a growing population, making it a durable market for real estate investment.

The acquisition reinforces NV REIT's commitment to ensuring a diverse and income-generating portfolio. Flagstaff's strong employment base, coupled with an outdoor lifestyle that attracts both residents and visitors, enhances the appeal of properties like Venture at Route 66. In addition to providing immediate cash flow for investors, this venture allows them to take part in 80% of the property's appreciation reflected in the net asset value (NAV) of the REIT.

Neighborhood Ventures is not just stopping at this acquisition. The company is actively looking into more UPREIT and direct acquisitions in regions like the Sunbelt and Mountain West, focusing on stabilized, cash-flowing multifamily properties. By tactically managing these investments and applying disciplined capital strategies, Neighborhood Ventures aims to drive up performance and boost shareholder value.

The addition of Venture at Route 66 also creates a legacy of community revitalization, as Neighborhood Ventures transforms underperforming properties into stable, cash-generating assets that bring positive impacts to their surroundings. This echoes their broader mission to provide not just strong returns for investors but also to create lasting positive changes in local communities.

For those considering investment opportunities or wanting to learn more about Neighborhood Ventures, comprehensive details about this and other projects can be found on their official website. However, prospective investors are encouraged to keep in mind that past performances don’t guarantee future results, and actual future conditions may lead to different outcomes.

In conclusion, the acquisition of Venture at Route 66 represents another successful step in Neighborhood Ventures' journey. As they work to navigate the evolving real estate landscape, they remain driven by their strategic goals to foster both lucrative investments and community growth. This careful balancing act of benefiting investors while nurturing local neighborhoods is the hallmark of a conscientious investment firm in today’s economic environment.