Invest
Venture Strategy & Philosophy
Our foundation is built upon the following main core principles: Market knowledge, Integrity, No brainer deals, VREG Core Fundamentals, and Long-standing relationships. Each deal must meet our Investment Criteria and has to check off all the boxes before we do a deal. It’s better to pass on a good deal than to buy a bad one, as Dolf De Roos says, the long-time real estate investor and author.
Market Knowledge, we are deeply versed in the market, and take every step needed to ensure we know the market. We are consistently tracking data and talking with experts in their related fields daily. When we do rental valuations for instance, we will do them sometimes a dozen times during due diligence to ensure our data is correct, and there hasn’t been a change in the market.
Integrity is doing the right thing every time with no question. We will always make the right decision, no matter the cost. Our reputation is far more important than trying to hit numbers that aren’t real or doing a deal that we shouldn’t be doing because the numbers are inflated.
If there is any question on whether an opportunity is a great deal, we simply don’t do it. We have our strict core fundamentals we follow and our previously mentioned investment criteria. We acquire no brainer deals. These are opportunities that do arise and these are the deals we at Venture focus on and are committed to finding and executing at a high level.
Our success is derived from the extremely valuable relationships we have created and fostered over the years with our investors, clients, and vendors and is reflected through past testaments and continued results. We have established a foundation of trust that we don’t take lightly, as we continue to grow we want to see success with those who we’ve been in relationship with for years.
The Adriana 119-Unit
Address: 22524 7th Ave S Des Moines
Status: Current Project & Stabilized
Projected 5 year value: $25,531,914
Projected 7 Year IRR: 16.26%
Completed 2018, fully leased in 2019
When this site was located, Andy Langsford, President & Founder of Venture Real Estate Group, had a vision. This vision turned into what would be the ground-up development of a 119-unit senior apartment project that would help change the skyline of the growing downtown Des Moines, WA. Along with his business partner Brian Scalabrine, former NBA World Champion with the Boston Celtics, they began to bring this vision to life.
After assembling various land parcels in Downtown Des Moines, the project required multiple talks with the City of Des Moines to allow the development to reach its full potential including increasing the building’s height limit to reveal sweeping views of the Puget Sound from the Adriana’s roof-top deck, as well as reducing parking requirements which eliminated one level of underground parking, saving the project over $1M.
The building is fully completed, stabilized, and currently running at about 95-97% occupancy.
Arbol Grande
Address: 1420 Fones Rd SE, Olympia, WA 98501
Status: Closed and fully funded
Purchase Price: $7.35M
Rehab: $654K
Projected Value: $10.145M
Projected 4 Year Profit: $1.171M
Projected 4 Year IRR: 12%-15%
Property Highlights:
Excellent value add opportunity in the desirable Olympia/Lacey market
25-unit complex comprised entirely of large 2-bed units, with room to raise rents, and bring substantial value
Arbol Grande is a twenty-five unit apartment complex that was well built in 1994 on a 59,242 sqft (1.36 acres) lot. All units have a spacious floorplan making them easy to rent, with the ability to be marketed as luxury apartments post-renovations. We are turning the current office into a studio apartment which will generate additional income, and will turn this project into a 26-unit property.
Capitol Hill Lakeview Apartments
Address: 1124 Lakeview Blvd E
Status: Current Project
Purchase Price: $1.2M
Rehab: $250k
Projected Value: $1.695M
Projected 3-Year Profit: $245K
Projected 3-Year IRR: 19.76%
Property Highlights:
Small multifamily rehab in Capital Hill
Full renovation of apartment units and exterior
This value-add Capitol Hill asset we recently acquired was through a 1031 from the sale of another of our assets in one of Seattle’s best locations, Magnolia. The Lakeview apartments are in a fantastic location with amazing views of South Lake Union. Our plan is to add two units in the above ground lower level basement, that is above ground and turn this level into the first level of the building.
University Place Apartments
Address: University Place, WA
Status: Recently under contract but backed out
Purchase Price: $11.8M
Project Type: Ground-up construction
Projected 7 Year Value: $150.7M
Projected 7 Year IRR: NDA required
Property Highlights:
Major 377-unit mixed use development project in University Place, WA
Ground up construction of residential units and retail space
The University Place apartments were to be built on a largely undeveloped Light Industrial zoned area of University Place, WA. This project consisted of developing a 7+ acre lot in a prime location, adjacent to a private golf course. Six separate buildings were proposed which would house a total of 377 units. The first floor of the front building was reserved for retail occupancy.
Orchard Apartments
Address: 4913 S Orchard St
Status: Completed & Sold
Purchase Price: $477k
Rehab: $56k
Sale Price: $670k
Profit: $115k
Project IRR: 49.94%
Property Highlights:
Purchase of under-performing property
Light Renovation of all units to match rents in the neighborhood and then fully leased to high-quality tenants at market rental rates, then sold the property. This was a quick one-year turnaround and we beat our time projections for this project.
More Photos from The Adriana
Rooftop Deck
Model Living Room
Model Kitchen
Model Bedroom
The Andover Apartments
4000 California Ave SW Seattle, WA 98116
Exterior Before Remodel
Exterior After Remodel
$450M Development & Hotel Portfolio
We recently were very close to acquiring a $450M development and hotel portfolio consisting of over 1,000 keys and the ability to repurpose a few of the sites and develop multifamily midrise and highrise sites throughout the Northwest. Our capital partner and Andy Langsford had multiple meetings with the ownership group, board members, and at this point have not come to an agreement on the terms of the transaction. We have learned to be patient.
