Distressed Multifamily Purchase Secured at 30% below Prior Owner's Basis, Positioning Asset for Long-term Value Creation

PHOENIX, March 17, 2026 /PRNewswire/ -- Neighborhood Ventures (NV), a leading real estate operator and an online real estate investment company that enables both accredited and non-accredited investors to invest in multifamily properties, today announced the acquisition of Venture on 16th, an 86-unit multifamily community located in the highly desirable Biltmore District of Uptown Phoenix.

The property was acquired for $19.5million in a short sale transaction, representing a purchase price approximately 30% below the prior owner's basis. The acquisition provides immediate monthly cash flow for investors with additional rent upside as market rents are realized.

Venture on 16th is a fully renovated community featuring a mix of two-, three-, and four- bedroom units. This is a rare offering in an urban Phoenix neighborhood where larger apartment layouts are increasingly difficult to find. The property's design centers around a landscaped courtyard that opens to a resort-style pool with glass fencing, a centrally located clubhouse, and a fully equipped fitness center. Many perimeter units include private patios and dual access points, creating convenient everyday living for residents.

"This was a disciplined acquisition from start to finish," said Jamison Manwaring, Co-founder and CEO of Neighborhood Ventures. "We spent six months underwriting the opportunity and negotiating directly with both the seller and lender to reach a price that made sense based on the property's fundamentals. Securing a quality asset in the Biltmore District at a distressed basis creates immediate value for our investors and positions the property for strong long-term performance."

Located in one of Phoenix's most walkable neighborhoods, Venture on 16th offers residents easy access to freeways, restaurants, retail, great schools, and employment hubs across the Biltmore and Uptown corridors.

"Opportunities like this don't come from chasing deals, they come from patience and conviction," added John Kobierowski, Co-founder and President of Real Estate at Neighborhood Ventures. "This property never officially hit the market. By maintaining direct dialogue with the ownership group and lender, we were able to structure a transaction that works for everyone while securing an asset that fits perfectly within our investment strategy."

Neighborhood Ventures plans to stabilize the property with long-term financing and align rents with market levels while maintaining the quality of the community and resident experience.

The acquisition further expands Neighborhood Ventures' portfolio of Phoenix-area multifamily properties and reflects the firm's strategy of acquiring well-located assets at attractive bases during periods of market dislocation.

For more information on Venture on 16, visit neighborhood.Ventures.

Prospective investors should bear in mind that past performance is no guarantee of future results and that there can be no assurance that projects will achieve projected results.

In addition, actual future conditions may require actions that differ from those contemplated at this time, and prospective investors are cautioned not to place undue reliance on these projections. This presentation includes certain non-GAAP financial measures. Certain statements such as "believes", "anticipates", "plans", "intends", "expects", "target" "preferred" and words of similar import constitute forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.

About Neighborhood Ventures

Neighborhood Ventures is an online real estate investment platform that offers both accredited and non-accredited investors across the nation the opportunity to invest in multifamily properties. The business revitalizes underperforming properties into stabilized, cash-flowing assets that create lasting positive impacts in their communities while delivering strong returns for investors.

Find the latest information on investment opportunities and progress updates on all projects at neighborhood.ventures.

Press Contact:

Lynn Munroe

845-548-1211

https://neighborhood.ventures

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SOURCE Neighborhood Ventures