By InBusiness Phoenix
Neighborhood Ventures, Arizona’s largest real estate crowdfunding company, announced 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.
