### Neighborhood Ventures Acquires Venture on Colter at Discounted Price
Neighborhood Ventures (NV), a real estate crowdfunding firm, has successfully acquired **Venture on Colter**, a 123-unit multifamily property in Central Phoenix. The property, located near Grand Canyon University and I-17, was purchased directly from a lender for **$13 million**, approximately **30% below its 2022 value**. NV raised **$4,515,000** from **95 investors** for this acquisition.
NV co-founder **Jamison Manwaring** highlighted the significance of the deal, stating, *“For the first time, we executed a direct lender purchase, allowing us to move swiftly and secure this property at a compelling price. This acquisition not only enhances our portfolio with a cash-flowing, well-renovated asset but also provides our investors with a unique opportunity to benefit from long-term growth and attractive tax-deferred advantages.”*
Previously known as **Thom Slate on Colter**, the newly acquired property aligns with NV’s strategy of acquiring distressed assets in high-growth markets. The company anticipates reaching full occupancy within the next six months through strategic property management and focused leasing efforts.
