A new fund will allow investors in Arizona and outside the state to invest in a fund targeted at Arizona distressed properties. Neighborhood Ventures has launched the Arizona Multifamily Opportunistic Fund to Capitalize on the increasing number of Distressed Properties.

The new fund is open to accredited investors nationwide for a minimum of $50,000, while non-accredited investors residing in Arizona can invest as little as $5,000. The plan expects a 16–20% Internal Rate of Return (IRR). The fund has a target term of four years. The promoters say the fund is an opportunity to invest in multifamily apartment buildings at a discount.

With this new special fund, Neighborhood Ventures hopes to purchase Arizona properties from owners who can’t refinance their debt, as well as from banks looking to unload properties they need to foreclose on. They identify mid-sized properties priced below market value and then apply strong property management and skilled remodelers to significantly improve the property value.

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.