Arizona Republic
z SUNDAY, NOVEMBER 5, 2017z 1R
Real Estate You can invest in metro Phoenix’s apartment boom
Do you have $1,000? Catherine Reagor Columnist Arizona Republic USA TODAY NETWORK
Want to invest in a metro Phoenix apartment-building boom? It could cost you as little as $1,000, about as much as a monthly rent payment. Neighborhood Ventures, Arizona’s ÿrst crowdfunding real-estate company, recently formed to invest in Phoenix-area apartments. A veteran Valley apartment broker, a multifamily-research expert and a former Wall Street analyst teamed up to create the company. Potential investors can sign up now, and the ÿrst offering to buy a Phoenix-area apartment complex is expected to be announced by Neighborhood Ventures in a few weeks.
“After 25 years in apartment business, one thing haunts me,” said John Kobierowski, one of the crowdfunding group’s founders. Kobierowski is senior managing partner at Phoenix-based ABI Multifamily. “I have never really been able to help individuals invest and make money in the Valley’s apartment market. Now I can.” Arizona crowdfunding legislation that was passed in 2015 allows small ÿrms to raise cash from investors with fewer requirements than ÿrms traded on the stock market must follow. Crowdfunding ÿrms must be headquartered in Arizona and only seek money from state residents. Another partner with Neighborhood Ventures, former Goldman Sachs tech analyst Jamison Manwaring, said taking crowdfunding to the apartment industry will allow Arizona residents to own part of a multifamSee REAGOR, Page 3R
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Phoenix-area rental complexes are leasing 24 apartments a month. The Stetson, a ÿve-story apartment complex in downtown Scottsdale’s entertainment district, opened in 2015. PARKER LEAVITT/THE REPUBLIC
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