TUCSON, Ariz., Dec. 20, 2021 /PRNewswire/ -- Leading commercial
real estate firms Vertical Street Ventures, Limitless Estates, and
Invest in Multifamily announce the joint acquisition of Seneca
Terrace Apartments in Tucson,
Arizona, a 109 unit apartment complex. The teams are led
by Steven Louie, Jenny Gou, and Ronnie
Gou of Vertical Street Ventures, Kyle Mitchell of Limitless Estates, Jonathan Winick of Invest in Multifamily, and
alongside Key Partner Gil Ficke.
This is the third property purchased this year by this joint
venture group in the Tucson Market. With Tucson experiencing 14% rent growth, the
3rd highest rent growth in the nation, the Joint Venture
Team is bullish on growing its presence in the 2nd
largest city in Arizona.
"We are thrilled to add Seneca
Terrace to our joint portfolio in the fast-growing
Tucson market, our 6th
acquisition in the Arizona market
and 3rd in the Tucson
market in the past 12 months. With our first two properties
exceeding our expectations, we searched for further expansion in
Tucson." Said Kyle Mitchell, Managing Partner for
Limitless Estates. "We look forward to enhancing what this property
has to offer for its residents."
Seneca Terrace is a 109-unit
institutional-quality apartment complex built in 2000. Owned and
operated by its original developers, Seneca
Terrace will be rebranded to The Residences on Seneca and go
through significant upgrades to modernize the property. Located in
the growing Tucson Area, the
property consists 100% of two- and three-bedroom units with over
1,000 sq. feet in each unit. Amenities include a swimming pool,
Spa, Picnic Areas with barbeque grills, in unit Washer and Dryers,
and Covered Parking.
Together, this team owns and operates more than 1,100
multifamily units worth over $155
million across Texas and
Arizona. They are uniquely
positioned to lead the optimization and growth of this
property.
About Vertical Street Ventures
Vertical Street Ventures (also known as VSV) is a commercial
real estate private equity firm, led by Managing Partners Steven
Louie, Jenny Gou, and Ronnie Gou. With a mission to improve
communities nationally, VSV has grown substantially in the last
year, growing its current portfolio of assets to $155 Million this year across the Arizona and Texas markets. VSV helps busy professionals
build passive income through investing in real estate
syndications.
Learn more at
https://www.verticalstreetventures.com or contact
hello@verticalstreetventures.com
About Limitless Estates
Limitless Estates is a real estate investment firm acquiring
value-add properties in Phoenix
AZ, Tucson AZ, and
Dallas-Ft. Worth TX with over
1,100 units and $125 Million. Founded
by Kyle Mitchell, Limitless Estates
combines high potential assets with best-in-class asset management
to deliver forecasted returns, while positively impacting the lives
of our investors and the communities in which we invest through the
highest level of transparency and fiduciary responsibility.
For information, go to https://limitless-estates.com/
About InvestInMultifamily.com
InvestInMultifamily.com is led by Jonathan Winick who has acquired $125 Million worth of multifamily across 1000
units in the Dallas and
Phoenix markets. Jonathan earned
his law degree at the University of
Arizona and worked for a hedge fund trading stock options in
Chicago and New York. His value-add properties create
consistent cash flow with superior risk adjusted returns for
limited partners.
For information, go to https://investinmultifamily.com/
Contact
Ronnie Gou
(657) 366-1770
326139@email4pr.com
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SOURCE Vertical Street Ventures