By InBusiness
Neighborhood Ventures, one of the country’s largest real estate crowdfunding companies, announced the launch of its Arizona Multifamily Opportunistic Fund. This special fund will allow accredited investors (and non-accredited investors in Arizona) to invest in Arizona multifamily commercial properties that Neighborhood Ventures estimates are selling at a distressed rate of 30% below intrinsic value.
The new fund is open to accredited investors nationwide for a minimum of $50,000, while non-accredited investors residing in Arizona can invest as little as $5,000. The plan expects a 16–20% Internal Rate of Return (IRR). The fund has a target term of four years.
“This is a golden opportunity to invest in multifamily apartment buildings at a discount,” says Neighborhood Ventures’ co-founder and CEO, Jamison Manwaring. “But there’s a need to act fast, which is why we launched this fund. Now is the right time for us to pick up these properties, under market value, as the next wave of commercial real estate debt is coming due.”
