Local real estate crowdfunding company Neighborhood Ventures is hosting a free community open house for investors and potential investors 9-11 a.m. Saturday, April 2, at Venture on Country Club, a 120-unit hotel to housing conversion property at 1410 S. Country Club Drive in Mesa.
Attendees will be treated to coffee and refreshments, see the renovated property, tour some of the units and have an opportunity to talk with the Neighborhood Ventures team. Guests can RSVP at neighborhood.ventures/openhouse, according to a release.
“We’re looking forward to showing off our biggest project yet,” Jamison Manwaring, Neighborhood Ventures co-founder, said in the release. “We think our investors are going to love seeing the incredible transformation this property has undergone — from a struggling run-down hotel to a vibrant community that has a true resort feel.”
Venture on Country Club is the 10th property to be funded by the Arizona real estate crowdfunding company, which was founded in 2017.
The former hotel is owned in part by 364 investors who invested a total of $4 million into the property. The target hold period for this property is three years, during which time renovations will be completed, the property rezoned to be apartments, and then rented. Renovations are nearly complete, and the property is renting to guests on a short term basis via Airbnb, the release states.
Learn more about Neighborhood Ventures at neighborhood.ventures
Neighborhood Ventures was launched in September 2017 by Jamison Manwaring, a former tech analyst at Goldman Sachs and VP of investor relations at LifeLock; and John Kobierowski, a veteran in the apartment industry and president and CEO of ABI Multifamily. The two partnered to create Neighborhood Ventures when new laws were passed that allowed non-accredited Arizona residents to invest in commercial real estate projects with as little as a $1,000 investment. Go to neighborhood.ventures