Neighborhood Ventures, a Phoenix-headquartered multifamily real estate operator and investment firm, has launched Opportunistic Fund II, a $25 million vehicle aiming to acquire five to eight distressed multifamily properties across high-growth markets, including Denver, Tampa, Salt Lake City, Charlotte, Dallas, and Phoenix.
The new fund will target mid-sized multifamily communities (typically 50–200 units) purchased at 30% or more below intrinsic value. Purchases will be made through lenders, pre-foreclosures, and forced-sales situations, and the fund’s strategy will emphasize rapid deployment, hands-on property management, targeted renovations, and a defined exit plan to capture appreciation.
“Execution is everything,” said John Kobierowski, co-founder and president for real estate. “Our team controls acquisitions, in-house property management, and capital projects. This is the vertical integration that turns discounted purchases into stabilized, cash-flowing assets. That operational edge is what creates sustainable upside for our investors.”
Jamison Manwaring, co-founder and CEO of Neighborhood Ventures, added, “We launched our first Opportunistic Fund to capitalize on multifamily distress in Arizona, and now we’re expanding geographically to access deeper deal flow. Over supply of newly constructed multifamily buildings in these Sunbelt and Western markets, coupled with high interest rates have built a refinancing wall that’s driven operators to sell at distressed prices. Neighborhood Ventures has a strong operational team, the capital, and the track record to move fast to acquire well located assets in these growing markets at significant discounts.”
