TUCSON, Ariz., Feb. 28, 2022 /PRNewswire/ — Vertical Street Ventures (VSV) announces the acquisition of Redondo Tower, a downtown High Rise apartment building, in Tucson, AZ. VSV teamed up with Ral West and John Hardwick of Hardwick Apartment Homes, Ashok Patil and Mohit Bansal of Prime Investment LLC, and Louie Caumban and Rosalind Caumban of Fastpath Capital Group LLC.
This marks VSV’s 5th property purchased in the Tucson, AZ market and 12th property acquired in the Arizona Market. Arbor Realty Trust provided the debt on the project. MEB Management will manage the property. Design and Construction will be managed by Gia Venturi.
"When we discovered Redondo Tower was available for purchase, we immediately jumped on the opportunity," said Ronnie Gou, a Managing Partner for VSV. "We’ve invested in Tucson for several years now and Redondo Tower has always been a fixture in the downtown area. We’re thrilled and honored to take on this project for the City of Tucson. We’ll take it through a major renovation and add to the fabric of downtown’s revitalization."
A 96-unit high rise apartment building, Redondo Tower is a key part of downtown Tucson, which will be rebranded Vertical Heights. Residents of the property will enjoy many new amenities, including adding a new rooftop lounge, a new gym and yoga studio, a state-of-the-art co-working lounge, and modernizing the existing pool. Its interior units will undergo extension renovation with brand new kitchens, bathrooms, and newly added Washer/Dryers in each unit. Located centrally right off the 10 freeway, a 5-minute walk to anywhere downtown, and a 10 minute drive to the University of Arizona campus, this is a prime location for many job sectors.
With Tucson market vacancy at 4%, Tucson residents continue to look for great places to live. VSV will continue its strategy of finding communities to improve in high growth markets residing in excellent locations throughout the Arizona and Texas Markets.
About Vertical Street Ventures
Vertical Street Ventures (also known as VSV) is a commercial real estate private equity firm, led by Managing Partners Steven Louie, Jenny Gou, Kyle Mitchell, and Ronnie Gou. With a mission to improve communities nationally, VSV has grown substantially in the last year, growing its current portfolio of assets to $182 Million this year across the Arizona and Texas markets. VSV helps busy professionals build passive income through investing in real estate syndications.
Learn more at https://www.verticalstreetventures.com
About Hardwick Apartment Homes
Hardwick Apartment Homes LLC (HAH) was created in 2021 for the purpose of investing in and syndicating multi-family properties in key markets in the US. Founded by Ral West and John Hardwick, HAH has embraced the amazing growth opportunities in the multi-family space, as well as the ability to help our own family and others achieve financial independence and build family wealth legacies for the long term. HAH is focused on key markets in the SunBelt states, such as Texas, Oklahoma, Arizona, Florida, and Georgia. So far, HAH has invested in over 4000 units across these 5 states, as both Limited Partners and co-General Partners.
About FastPath Capital Group
FastPath Capital Group (FCG) is a real estate investment firm based in Phoenix, acquiring value-add properties in Arizona and Texas markets. Founded by the Managing Partners, Louie Caumban and Rosalind Caumban, FCG has invested in multifamily apartments with over 2,100 units. Its mission is to provide investors an option and opportunity to invest in multifamily apartment properties in the best market. FCG also strives to have a positive impact to the community where it serves with the highest level of integrity and commitment.
To learn more about FCG: https://www.fastpathcapital.com
About Prime Investment LLC
Prime Investment is a commercial real estate company that focuses investments in multifamily apartment buildings. Prime Investment’s founders are Ashok Patil and Mohit Bansal. They have established General Partnership in over 1,200 units in 2021 in several states- AZ, TX, GA, OH, IN. They are looking to grow their business this year while providing busy professionals means to build passive income via investing in multifamily real estate investments.
To learn more about Prime Investment, please go to: https://www.primeinvestmentllc.com
SOURCE Vertical Street Ventures