Freedom Capital Partners is pleased to announce the successful closing of Venture on 16th, a multifamily investment in Phoenix, Arizona.
The property was acquired at an attractive basis of $19.5 million, representing a significant discount to the prior owner’s $29.6 million cost basis just three years ago. This favorable entry point was made possible by acquiring the asset out of foreclosure, creating a compelling risk-adjusted investment opportunity.
As part of the closing, the operating team secured long-term agency financing through Fannie Mae at a fixed rate of 5.3%, helping position the investment for stable cash flow and downside protection.
Investment Overview
Venture on 16th is structured as a value-add multifamily investment targeting:
- 5% annual cash flow, paid quarterly
- 17–18% targeted annualized returns
- 3-year hold period, with the majority of returns expected at exit
Property & Strategy Overview
To provide additional insight into the asset and business plan, the operating partner, Neighborhood Ventures, has prepared a short video update with on-site footage and commentary on the execution strategy.
Property Walk-Thru with Neighborhood Ventures Founders Jamison Manwaring and John Kobierowski.
What Comes Next
With the acquisition now complete, the focus shifts to execution of the business plan, including:
- Transitioning to the property management team
- Operational improvements and stabilization
- Targeted upgrades to enhance value and performance
Investors can expect:
- Quarterly updates with performance metrics and key milestones
- Quarterly video updates from the operating team
- Quarterly cash distributions, with the first distribution expected in mid-July
We are excited about the opportunity presented by Venture on 16th and look forward to delivering strong results as the business plan is executed.