Neighborhood Ventures, a real estate operator and an online real estate investment company that enables both accredited and non-accredited investors to invest in multifamily properties, has closed on Venture on Maryland, a 78-unit multifamily community in Central Phoenix. Acquired in a pre-foreclosure transaction directly from the bank for $10.7 million (down from a 2022 valuation of $17.1 million), the purchase marks the fourth distressed asset added to NV’s Arizona Multifamily Opportunistic Fund.
Investor interest in the offering was immediate with Neighborhood Ventures receiving all $3.65M in investor capital ahead of schedule, which allowed an early closing and freed operations team to take over the property and begin executing improvements right away. NV plans to invest nearly $2 million in capital improvements over the next two years to modernize interiors, upgrade kitchens and baths, and enhance curb appeal and landscaping.
“Closing on Venture on Maryland reinforces our ability to identify high-value opportunities and act decisively when the market presents them,” said Jamison Manwaring, Co-founder and CEO of Neighborhood Ventures. “We are prepared to invest in these properties, with both capital and operational expertise, to make them profitable while improving neighborhoods, and creating quality housing options for local residents.”
Located in a highly walkable corridor, Venture on Maryland gives investors exposure to Phoenix’s continued rental demand. The Opportunistic Fund targets 16–20% annual returns for investors and is designed to acquire, stabilize, and sell multiple discounted assets over a multi-year hold period. The fund offers a $5,000 minimum investment for Arizona residents, providing broad access to institutional-style real estate deals.
“Central Phoenix continues to attract residents and renters drawn to walkability and transit access, and assets like Venture on Maryland are well positioned to benefit as the market stabilizes,” said John Kobierowski, Co-founder & President of Real Estate at Neighborhood Ventures. “Our team moves quickly to secure deals, implement thoughtful renovations, and professionally manage properties to maximize returns for our investor community.”
Neighborhood Ventures remains focused on transforming underperforming assets into stabilized, cash-flowing communities while delivering attractive risk-adjusted returns for investors.
