Neighborhood Ventures Acquires Biltmore Rental Asset

Neighborhood Ventures (NV) acquired Venture on 16th, an 86-unit multifamily community located in the Biltmore District of Uptown Phoenix. The property was acquired for $19.5 million 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 ... The post Neighborhood Ventures Acquires Biltmore Rental Asset appeared first on Connect CRE .