Meridian Capital Group

Vertical Street Ventures and Partners Acquire New Tucson Property

January 03, 2023

TUCSON, Ariz., June 9, 2022 /PRNewswire/ — Vertical Street Ventures (VSV) announced the acquisition of their fifth property in Tucson, Arizona. The acquisition marks the company’s 21st transaction in the Western United States, bringing the total VSV portfolio to $270 Million in assets under management.

The 114-unit apartment complex, which will be rebranded to Vertical North, features community amenities including two swimming pools, a clubhouse, and playground. VSV will invest over $1.8 Million into the property to add washers and dryers to renovated units, upgrade to new modern interiors including new kitchens and bathrooms, add new paint, landscaping and parking lot improvements and construction of a new outdoor gym.

“We are thrilled to acquire this wonderful property spanning a city block in North Tucson,” said Kyle Mitchell, a Managing Partner for VSV. “We appreciate how well the property has been kept up and improved recently. As owners of several other properties in the area, this property has all the aspects you want to see with wonderful resident amenities and a great community feel. There’s still a lot of room for growth and we look forward to serving these residents.”

The transaction took place in partnership with Peter Pomeroy and Jon Faller of Northlight Growth Properties, Ral West and John Hardwick of Hardwick Apartment Homes, and Brett Moulton of Brojan Capital. The process was overseen by IPA’s Hamid Panahi and Clint Wadlund. The property’s loan was provided by Arbor’s Eric Regenbogen with support from Meridian’s Scott Rosenstock and Barry Lefkowitz. MEB Management Services Inc. will manage the property for VSV.

VSV’s Tucson portfolio totals 588 units within a 12-mile radius. With low supply in the market, VSV will continue to improve current communities and create safe environments for Tucson residents.

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 $214 Million this year across the Arizona and Texas markets. VSV helps busy professionals build passive income through investing in real estate syndications.

Featuring:
Read Article
Recent Articles | Back to News

BHI Lends $35M on Brooklyn Apartments Build

Article
January 3, 2023

Meridian Capital Group Releases Latest Activity

Article
January 3, 2023

Power Finance 2023: Ralph Herzka and Yoni Goodman

Article
January 3, 2023

Gregory Goldberg, Meridian Capital Group – Retail Leasing

Article
January 3, 2023

Seniors Housing Business: Capital Keeps Flowing in Uncertain Times

Article
January 3, 2023

Meridian Capital Arranges Acquisition Loan on Suburban Philly Offices

Article
January 3, 2023

NEWSLETTER

Stay up to date with MRL’s newest listings & events!

Thank you.

You're in!