{"id":18480,"date":"2025-04-11T10:27:40","date_gmt":"2025-04-11T17:27:40","guid":{"rendered":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/?p=18480"},"modified":"2025-04-11T10:27:42","modified_gmt":"2025-04-11T17:27:42","slug":"neighborhood-ventures-secures-property-acquisition-in-arcadia","status":"publish","type":"post","link":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/in-house-news\/neighborhood-ventures-secures-property-acquisition-in-arcadia","title":{"rendered":"Neighborhood Ventures Secures Property Acquisition in Arcadia"},"content":{"rendered":"\n

Neighborhood Ventures, a real estate crowdfunding platform in Arizona, announced the acquisition of Venture on 52nd Street, a 71-unit multifamily community on Thomas Road in Arcadia.<\/p>\n\n\n\n

Neighborhood Ventures\u2019 first acquisition of a foreclosed property – secured at more than 35 percent below its 2022 market valuation – is a significant milestone for the company. Originally valued at $18.25 million, the property was purchased at a foreclosure auction for $11 million.<\/p>\n\n\n\n

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Photos courtesy of Neighborhood Ventures<\/em><\/figcaption><\/figure>\n\n\n\n

\u201cThis successful closing is another example of how Neighborhood Ventures is leveraging market conditions to acquire distressed properties at a discount, reposition them, and create long-term value for investors,\u201d Co-founder and CEO Jamison Manwaring said. \u201cOur ability to purchase at a foreclosure auction allowed us to secure this asset at an exceptional price. We are excited to begin executing value-add strategy.\u201d<\/p>\n\n\n\n

Investor enthusiasm was swift and strong: Neighborhood Ventures raised $1.345 million in 36 hours following the fund\u2019s launch. The rapid response highlights growing investor confidence in real estate offerings that promise stability and above-average returns.<\/p>\n\n\n\n

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The new acquisition includes a mix of studio, one-bedroom, and two-bedroom units ranging from 400 to 748 square feet. Situated along the bustling Thomas Road corridor \u2014 a hub for dining, shopping, and lifestyle amenities \u2014 the location is primed for rent growth and long-term neighborhood revitalization.<\/p>\n\n\n\n

Foreclosure deals in the multifamily space are very different from what we see in single-family housing. When a single home goes into foreclosure, it can negatively affect surrounding property values. But with commercial real estate, particularly multifamily, these transactions are often quiet, off-market deals that don\u2019t ripple through the neighborhood in the same way, according to Manwaring.<\/p>\n\n\n\n

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“Instead, they present opportunities for experienced investors to step in at a favorable price point and add value. Our recent acquisition of Venture on 52nd Street is a great example. This is a vibrant, growing neighborhood with strong fundamentals, and we believe the best is yet to come as rents continue to align with market rates,\u201d Manwaring said. <\/p>\n\n\n\n

Neighborhood Ventures is now focused on stabilizing operations at the property, improving occupancy, and implementing efficient management strategies. Investors in the offering are projected to receive a 12 percent preferred annual return over a three-year hold period.<\/p>\n\n\n\n

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The investment opportunity remains open through the Arizona Multifamily Opportunistic Fund, offering minimum investments of $5,000\u2013$10,000 for non-accredited Arizona residents or a $50,000 minimum for accredited investors nationwide. <\/p>\n\n\n\n