Via PR Newswire
Neighborhood Ventures (NV), a leading real estate operator and an online real estate investment company that enables both accredited and non-accredited investors to invest in multifamily properties, is proud to announce the launch of Venture on Maryland, a 78‑unit multifamily community in Central Phoenix, into its Arizona Multifamily Opportunistic Fund. Acquired through a pre-foreclosure, forced sale transaction for $10.7 million (down from $17.1 million in 2022), this marks the fund’s fourth distressed‑asset purchase.
“Venture on Maryland exemplifies our disciplined approach to sourcing high‑value opportunities,” said Jamison Manwaring, Co‑founder and CEO of Neighborhood Ventures. “By stepping in pre‑foreclosure, we secured a substantial discount, positioned ourselves to drive meaningful value creation, and continue to deliver the 16–20% target returns our fund investors expect.”
Located in a thriving urban corridor, Venture on Maryland offers investors exposure to Phoenix’s growing rental demand. Under NV’s stewardship, the property will benefit from targeted renovations, enhanced property management, and strategic leasing initiatives designed to stabilize occupancy and optimize cash flow.
“Central Phoenix remains one of the fastest‑growing rental markets in the country,” noted John Kobierowski, Co‑founder & President of Real Estate. “This acquisition underscores our ability to execute complex transactions quickly and further diversify the Opportunistic Fund’s portfolio with assets that offer both near‑term cash flow and long‑term appreciation.”
Key Highlights of Venture on Maryland:
- 78 Units: one‑bedroom layouts in a highly walkable neighborhood
- Strategic Acquisition: Pre‑foreclosure purchase at a 38% discount to 2022 valuation
- Fund Alignment: Fourth distressed‑asset addition to the Arizona Multifamily Opportunistic Fund
- Investor Opportunity: Continued access to high‑yield multifamily assets with a $5,000 minimum investment for Arizona residents
Over the next two years, NV will invest nearly $2 million in capital improvements at Venture on Maryland. The renovation plan includes full interior upgrades, modernizing kitchens, bathrooms, and appliances, as well as exterior improvements.
Neighborhood Ventures has a proven track record of transforming underperforming properties into cash‑flowing assets and delivering strong returns. Interested investors can learn more about Venture on Maryland and the Opportunistic Fund at 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.
