VENTURA, CA – Apartment Ventures is pleased to announce the acquisition of Ashwood Gardens, a 96-unit residential property in Ventura, California. With this expansion in mid-February, Apartment Ventures closed nearly $ 150 million in deals in the first quarter of 2021. With two more deals in the pipeline – one in Orange County, California and another in the greater Phoenix area – 2021 is off to a good start at Apartment Ventures.
A fortune of over $ 29 million, Ashwood Gardens is close to downtown Ventura and Ventura City College with entertainment and port facilities nearby. Until now, the community has been held by a single owner since its development in 1980. Structurally, the property has been carefully maintained and Apartment Ventures looks forward to bringing their industry leading renovation and management skills to the table as part of their value creation plans over the next two years.
The Ashwood Gardens property has two spacious units perfect for a growing home office market, offering units of both 865 square feet and 1,240 square feet, each with a balcony or terrace. The community also offers expanded residential amenities such as a pool, clubhouse, billiards room, fitness center and privacy gate in a quiet, park-like setting.
Apartment Ventures' ability to acquire this and other unique assets is in large part due to their established relationships throughout the multi-family community.
"As a single family home, Ashwood Gardens is a one-time purchase," says Kari Wilfong, Principal & COO at Apartment Ventures. “We are very proud of this purchase and of everything we have achieved so far this year. Our successful transactions are the result of intense relationships within our target regions, and we look forward to bringing all of our experience and skill to the table to add further value to these already outstanding communities. "
Source: Housing company