Neighborhood Ventures Acquires Distressed 123-Unit Property in Central Phoenix

"Venture on Colter" Purchased at 30%+ Discount; Offers Investment Opportunities with Target Returns of up to 20%

PHOENIX, Dec. 10, 2024 /PRNewswire/ -- Neighborhood Ventures (NV), Arizona's largest real estate crowdfunding company, is thrilled to announce its latest acquisition, Venture on Colter (formerly known as Thom Slate on Colter), a 123-unit multifamily property located in Central Phoenix near Grand Canyon University and I-17. This acquisition underscores NV's commitment to identifying value-add opportunities in high-growth areas while offering attractive investment options to its community of investors.

The property, purchased directly from the lender for $13 million ($105,000 per unit), represents a 25%+ discount. Originally renovated with over $2 million in capital improvements, the property offers excellent curb appeal with two pools, ramadas, and updated infrastructure, including chiller systems, plumbing, electrical, and roofing.

It didn't take investors long to engage. Neighborhood Ventures raised over $1M for the Venture on Colter offering in less than 8 hours.

"This is a unique opportunity to acquire a well-renovated property in a transitioning area of Central Phoenix," said NV Co-Founder and Real Estate President, John Kobierowski. "The previous owner focused on critical updates that often get overlooked but make a huge difference in long-term performance. With Grand Canyon University nearby and ongoing improvements in the corridor, this area has seen tremendous growth. We're excited to bring our expertise in property management to lease up the remaining units and maximize the property's potential."

Neighborhood Ventures plans to lease the 25 vacant units within six months, stabilize operations, and hold the property for approximately three years before a strategic sale.

"With rising interest in alternative investments, Venture on Colter provides a compelling opportunity for both Arizona residents and national investors," said Co-founder and CEO Jamison Manwaring. "We're offering 12% preferred annual returns through direct investment and up to 20% annual returns through our Opportunistic Fund. This acquisition aligns perfectly with our strategy of finding distressed assets in high-demand markets and delivering strong, consistent returns to our investors."

Investment opportunities are available for both accredited and non-accredited investors:

• Direct Investment in Venture on Colter: $5,000 minimum for Arizona residents; $25,000 minimum for accredited investors.
  
  
• Opportunistic Fund: $5,000 minimum for Arizona residents; $50,000 minimum for national investors.

For more information on investment opportunities, visit neighborhood.ventures.

Prospective investors should bear in mind that past performance is no guarantee of future results and that there can be no assurance that projects will achieve projected results.

In addition, actual future conditions may require actions that differ from those contemplated at this time, and prospective investors are cautioned not to place undue reliance on these projections. This presentation includes certain non-GAAP financial measures. Certain statements such as "believes", "anticipates", "plans", "intends", "expects", "target" "preferred" and words of similar import constitute forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.

About Neighborhood Ventures

Neighborhood Ventures offers investment opportunities to accredited and non-accredited individual investors of all income levels, with a minimum investment amount of just $1,000. Since its inception, the company has sponsored more equity crowdfunding offerings than any other real estate investment company nationwide. To date, the group has purchased 15 properties and sold six of them, paying investors a 12% preferred annual return on their investments. Find the latest information on investment opportunities and progress updates on all projects at neighborhood.ventures.

Press Contact: Lynn Munroe, 845-548-1211, https://neighborhood.ventures/

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SOURCE Neighborhood Ventures