In this section
Ep. 125 - INVESTOR LIVESTREAM Q2 2023: Real Estate Investment Strategy, Opportunities, and Expansion Plans
In this Livestream, CEO Jamison Manwaring and President of Real Estate, John Kobierowski, talk about our current real estate projects and the market in general. They emphasize how we focus only on multifamily properties and in the foreseeable future will not take part in any commercial projects.
With respect to our latest project, Venture on 17th, Jamison and John discuss the success of raising $2.4 million in less than 24 hours from 189 investors. As the conversation continues, they dive deeper into our other real estate projects. Venture at Route 66 is seeing increasingly high demand as a short term rental. Venture on 12th Place is finishing the final touches on units and has been turned over to our management company to start leasing. Venture on Country Club continues to perform as a highly booked vacation rental in the city of Mesa and will likely be converted to a multifamily property come summer of 2023, impending Mesa city approval. Venture on Broadway, our first and only retail project, has 2 operating tenants: Dunkin Donuts and Burger Rush. Further, the businesses will be fully operational within the week.
For property acquisitions in the near future, the two mention that Neighborhood Ventures is interested in buying stabilized assets that are running smoothly, however, will remain highly selective in acquiring new properties that fit our investment strategy.
In addition to giving updates on our current properties, Jamison and John re-introduce our newest offering, NV REIT, which allows investors all over the U.S. to invest in a diversified portfolio of multifamily properties with as little as $1,000. Jamison and John are confident about the multifamily market in Arizona and the Sunbelt region, citing strong demand and a lack of housing supply to meet the growing population's needs. With respect to NV REIT, investors can reinvest their distributions into more shares of NV REIT. Although we cannot publicly disclose how much NV REIT has fundraised, Jamison mentions that they have raised several million and have well over 200 investors.
Overall, Jamison and John provide a comprehensive overview of our companies real estate projects and their perspective on the market. They share insights into our investment strategies, the confidence in the multifamily market, and plans for future expansion.