OpenPath Investments acquires Phoenix apartment complex Ventana Palms for $8.5M; launches online investor portal
PHOENIX, ARIZONA (PRWEB) September 23, 2015 -- OpenPath Investments has purchased Ventana Palms Apartments, located in west Phoenix, for $8.5 million, kickstarting an effort to bring a socially responsible investing and property management model to the working-class housing complex in the Maryvale neighborhood.
OpenPath’s acquisition includes approximately $3.6 million in equity financing from socially conscious investors who support the firm’s Urban Village community concept and its environmentally friendly investment model. The Urban Village concept calls for investments in community-building efforts for apartment residents, including tools, inspiration and ideas to enrich their community life — from community gardens, to educational classes and leadership development.
OpenPath also intends to invest approximately $1.5 million in interior and exterior upgrades at Ventana Palms. The 10-building, two-story, garden-style apartment property is located at 7021 W. McDowell Road. Built in 1989, the property includes 160 units with an average size of 857 square feet.
The Ventana Palms announcement accompanies the launch of OpenPath’s new online investor portal, which enables the San Rafael, California-based asset manager to attract, engage and manage its investor base with more efficiency and transparency. The portal allows accredited investors to review and make direct investments in real estate projects online. Investors are able to access tax documents, financials and deal documents throughout the life of their investments via a login protected secure online dashboard.
“We cultivate healthy and thriving communities through social stewardship, open feedback loops, and respect for all parties and viewpoints. When OpenPath’s residents and employees are thriving, so are OpenPath’s investors,” OpenPath Managing Director Peter Slaugh says. “As we move forward, we’re excited to offer both new and existing accredited investors the opportunity to take part in our investing model with transparency and accessibility through our new online investor portal.”
The new investor portal was built by Investor Management Services LLC, a QuietStream Financial portfolio company.
OpenPath’s new investor portal and details on the firm’s strategy and portfolio are accessible at Investments.openpathinvestments.com.
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About OpenPath Investments
OpenPath Investments is a triple bottom-line company with more than a decade of experience creating value for its investors, its tenants and its communities. OPI specializes in multi-family acquisitions totaling more than 2,100 apartment units with a current portfolio value exceeding $260 million and a historical investor rate of return of 18%+. The company strategy is to continue generating above-market investment returns alongside measurable social and environmental impact. OPI works with accredited investors and has options for investments at various capital levels. Visit OPI’s website, http://www.openpathinvestments.com, for more information.
About Investor Management Services
Investor Management Services, a QuietStream Financial portfolio company, is a full-service investor management, technology and support provider for commercial real estate owners. IMS delivers a comprehensive suite of tools to attract, engage and manage commercial real estate investors, all developed and supported by the expertise of more than 100 commercial real estate and technology professionals. IMS solutions include online fundraising and investment portals, investor dashboards, online transaction processing, live customer service, investor disbursements and communications, comprehensive marketing support and additional features. Visit IMS at http://www.investormanagementservices.com.
Adam O'Daniel, Investor Management Services, http://www.investormanagementservices.com, +1 (704) 940-9754, [email protected]
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