Venture On Country Club

Venture On Country Club

From Hotel to Much Needed Housing in Arizona.

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
$100K-$1M
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

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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