Venture On Country Club

Venture On Country Club

From Hotel to Much Needed Housing in Arizona.

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Security Type
Preferred Stock
Categories
Real Estate
Min Investment
$1,000
Location
Phoenix, AZ
Offering Date
July 07, 2021
Expected Close Date
June 01, 2022
Target Raise
$100.00K-$1.00M
Security Price
$1,000

Company Description

Venture on Country Club plans to purchase a 120 unit located at 1410 S Country Club, Mesa, Arizona 85210 and convert it into a multi-family residential apartment building. The Property was originally built in 1985 and consists of 120 units - 35 studio units, 73 one-bedroom and one-bathroom units, and 12 two-bedroom and two-bathroom units. It is currently being operated as a hotel, but the Company’s plan is to convert it into a traditional multi-unit rental building. Zoning approval is required for this conversion and is expected to take about 12  months to obtain.

Key Deal Facts

Re-use. Conversion of a hotel into much needed housing
Experienced developer. This team has completed multiple housing projects
Quick turn-around. Quick conversion to ensure operating cash flow.
Three-year plan. Re-financing or sale planned in three years
Flexible capital stack. Funds raised and ready to fill an equity gap if needed

Management Team / Advisory Board Bios

Jamison Manwaring, Co-Founder
In 2020 Jamison was selected as Phoenix Business Journal's 40 under 40. Before launching Neighborhood Ventures, he served as the Vice President of Investor Relations at LifeLock and assisted the company in its successful sale to Symantec in February of 2017. Before working at LifeLock, Jamison was a technology analyst at Goldman Sachs where he participated in over a dozen software IPOs including Tableau, Alarm.com, and LifeLock. Jamison graduated from the University of Utah with a BS in Finance.

John Kobierowski is Co-founder
President of Real Estate at Neighborhood Ventures. He also co-founded ABI Multifamily in September 2013. In 2020 he became a contributing member of the Forbes Real Estate Council. John has over 25 years of commercial real estate experience. He bought his first small apartment building while still in college.
Amount Raised : $0
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Security Description

Preferred securities are a type of investment that generally offers some sort of preferred treatment through a dividend or preferred treatment in a liquidation.

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