Neighborhood Ventures Closes Major Multifamily Acquisition in Central Phoenix

Investment Highlights of Neighborhood Ventures' New Acquisition

Neighborhood Ventures (NV), a prominent real estate operator known for its innovative crowdfunding approach, has recently completed the acquisition of 'Venture on Maryland,' a multifamily community consisting of 78 units in Central Phoenix. This strategic purchase, finalized at $10.7 million, represents a significant 38% discount compared to its 2022 valuation of $17.1 million. Notably, this deal marks Neighborhood Ventures' fourth distressed asset addition to its Arizona Multifamily Opportunistic Fund.

In just 30 days following the announcement of this fund acquisition, Neighborhood Ventures successfully raised $3.65 million in investor capital, allowing for an expedited closing process. This early completion enables their operations team to swiftly begin executing essential improvements on the property. In the next two years, NV plans to invest an estimated $2 million to undertake various enhancements, including modernizing interiors, upgrading kitchens and bathrooms, as well as enhancing curb appeal and landscaping.

According to Jamison Manwaring, Co-founder and CEO of Neighborhood Ventures, this acquisition underscores the firm's ability to seize high-value opportunities and act decisively in a fluctuating market. "We are prepared to invest in these properties with both capital and operational expertise. Our goal is to transform underperforming assets into profitable ventures while improving neighborhoods and offering quality housing to local residents," Manwaring stated.

Market Position and Investment Strategy

Located in a highly walkable area, 'Venture on Maryland' provides investors with access to the ongoing rental demand in Phoenix. The Opportunistic Fund is focused on targeting annual returns of 16-20% for investors. It is designed to strategically acquire, stabilize, and sell multiple discounted properties over several years, making it an attractive opportunity for investors looking to engage with institutional-style real estate deals, especially with a minimum investment requirement of $5,000 for local residents.

John Kobierowski, Co-founder and President of Real Estate at Neighborhood Ventures, commented, "Central Phoenix continues to draw in residents seeking both walkability and accessibility to transit. Properties like 'Venture on Maryland' are well-situated to thrive as the market begins to stabilize. Our team operates with urgency to secure deals, implement thoughtful renovations, and manage properties efficiently to maximize returns for our investors."

Why Invest with Neighborhood Ventures?

The current market dislocation presents compelling entry points into high-quality multifamily properties purchased at considerable discounts. Rental demand remains robust, as many households are choosing to rent for additional financial flexibility. Neighborhood Ventures boasts a vertically integrated model that encompasses acquisition, in-house property management, and a nationwide crowdfunding platform, which grants everyday investors access to high-quality investment opportunities with lower minimums and improved transparency.

The firm is dedicated to transforming underperforming assets into thriving, cash-flowing communities while aiming to deliver attractive risk-adjusted returns. Interested parties can learn more about 'Venture on Maryland' and the details of the Opportunistic Fund by visiting neighborhood.ventures.

Let it be noted that past performance is not indicative of future results. Potential investors should acknowledge that future conditions may necessitate modifications to project plans, and it is advisable not to place excessive reliance on forward-looking statements. Furthermore, this overview includes certain non-GAAP financial metrics, and various statements constituted as forward-looking may involve significant risks, uncertainties, and factors that could lead to outcomes differing materially from those anticipated.

Conclusion

Neighborhood Ventures positions itself uniquely in the real estate market, providing opportunities for both accredited and non-accredited investors. Their commitment to transforming communities and enhancing property value reinforces their reputation as a pioneering real estate investment entity. For additional information and updates on investment opportunities, please refer to neighborhood.ventures.