The acquisition of this property was possible because of our reputation, relationships and extensive knowledge of the Southwest market.
FLAGSTAFF, Ariz. (PRWEB)
February 17, 2021
Apartment Ventures, NNC is proud to announce the recent acquisition of Village at Aspen Place, a luxury Class A apartment of 222 units, mixed use. Built in 2015, the hotel is located on Aspen Place in Sawmill, Flagstaff's premier lifestyle center. It offers some of the best shopping, dining, and service in town.
Apartment Ventures was able to acquire this asset in a highly competitive environment based on more than 35 years of experience investing in the Southwest, proven underwriting metrics, extensive local market knowledge and deep regional relationships. Although many companies have entered the Southwest market in recent years, Apartment Ventures has been investing in the region for over three decades in order to gain knowledge of newer companies in the market. These long-term and well-developed relationships played an essential role in Apartment Venture's acquisition of the property.
The $ 64.5 million transaction is Apartment Ventures' fourth institutional acquisition in the Southwest in as many years. This brings the portfolio in the southwest to close to 1,000 units, which corresponds to an investment of almost a quarter of a billion dollars.
With this new acquisition, Apartment Ventures continues to do what they do best: make targeted, well-researched investments in well-known markets, resulting in successful long-term relationships that produce solid returns.
John Nunn, Principal at Apartment Ventures, NNC stated, “Our acquisition of this property was made possible because of our reputation, relationships and extensive knowledge of the Southwest market. These aspects all add value to our investors and have helped us become a boutique company that can compete with institutional investors. We are very proud of this latest purchase – it continues to cement our longstanding reputation in the region. "
Apartment Ventures, NNC, is an established, fully integrated real estate investment firm that specializes in multi-family investments and has completed over 100 transactions totaling over $ 1.5 billion. They invest primarily in Southern California, Arizona and Nevada with a total portfolio of 3,100 units and $ 800 million in assets under management. They are currently accepting new investment partners. Focusing on responsible and reliable returns, Apartment Ventures is a partnership company that continues to advocate meaningful investments with like-minded partners.
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