Neighborhood Ventures Closes Venture on Maryland successfully in Central Phoenix (19459000)
The Fund raised $3.65M within 30 days of announcing its fourth Opportunistic Acquisition. A pre-foreclosure purchase for 78 units was secured at 38% discount.
Neighborhood Ventures, a real estate company and online investment platform that allows accredited investors and non-accredited ones to invest in multifamily property, recently closed on Venture on Maryland. This 78 unit multifamily complex is located in Central Phoenix. The distressed asset was purchased in a direct pre-foreclosure deal from the bank, for just $10.7 million. This is down from a valuation of $17.1million by 2022.
Neighborhood Ventures received all of the $3.65M investor capital before the scheduled closing date, which enabled an early closure and allowed the operations team to begin immediately executing the improvements. NV will invest almost $2 million over the next 2 years in capital improvements to upgrade interiors, kitchens and bathrooms, as well as enhance curb appeal.
Jamison M. Manwaring is the CEO and co-founder of Neighborhood Ventures. “Closing on Venture on Maryland confirms our ability identify and take advantage of high-value market opportunities,” he said. We are ready to invest both in capital and expertise to turn these properties profitable, while also improving the neighborhoods and providing quality housing for local residents.
Venture on Maryland, located in an area that is highly walkable, gives investors exposure for the continued demand of rental properties in Phoenix. Opportunistic Fund is designed to provide investors with 16-20% returns annually and invest in multiple discounted properties over an extended period of time. Arizona residents can invest as little as $5,000 to gain access to institutional style real estate.
John Kobierowski is the Co-Founder & President, Real Estate at Neighborhood Ventures. He said, “Central Phoenix will continue to draw residents and tenants drawn by walkability and access to transit, and Venture on Maryland assets are well-positioned to profit as the market stabilises.” Our team works quickly to close deals, make thoughtful improvements, and manage the properties professionally to maximize return for our investors.
What makes now a good time to invest with Neighborhood Ventures?
- The market dislocation created a compelling opportunity to buy quality multifamily properties at substantial discounts
- Renting is a popular option for many families to save money.
- NV’s vertically-integrated model (acquisitions, property management in-house, and a crowdfunding engine for the national market) allows investors of all levels to gain access to institutional opportunities, with reduced minimums, while also improving transparency.
Neighborhood Ventures is committed to transforming low-performing assets into stable, cash-flowing community while providing attractive returns. For more information on Venture on Maryland and NV’s Opportunistic Fund, visit neighborhood.ventures.
Investors should be aware that the past is not a guarantee for future performance and there are no guarantees that a project will meet its projected outcomes.
Also, future events may dictate actions different from what is anticipated at the moment. Investors are advised not to rely too heavily on projections. This presentation contains certain non-GAAP measures. Forward-looking statements include statements like “believes”, ‘anticipates’, plans’, intends'”, â€expects†“target†“preferred†and similar words. These forward-looking statements are subject to known and unknown uncertainties, risks and other factors, which may lead actual results, performances or achievements materially differ from those expressed in the forward-looking statements.
About Neighborhood Ventures
Neighborhood Ventures provides investment opportunities for accredited and unaccredited individuals of any income level. The minimum investment is $1,000. The company, since its founding in 2005, has offered more equity crowdfunding opportunities than any other company investing in real estate nationwide. The group has bought and sold more than twenty properties.
Find the latest information on investment opportunities and progress updates on all projects at neighborhood.ventures.
