MVC in partnership with MMZF acquires Montclair
Madison Capital Ventures acquires Montclair Apartments; a 61 Unit apartment building in Tucson, AZ
Los Angeles, CA (PRWEB) February 1, 2006 - Madison Capital Ventures ("MCV"), announced today that it has acquired Montclair Apartment Building in Tucson, Arizona.
The 61 unit building is located on 811 and 835 N. Alvernon Way and is the second building purchased with partners of MMZF, LLC. In addition, the partners have purchased an adjacent 37,998 square foot commercially zoned lot. This joint acquisition is the second building in Tucson after their recent purchase of Palm Gardens apartments.
MCV believes this real estate investment is a great addition to their portfolio. At press time, the buildings combined have a capitalization rate of 9.2 and at under 3 miles to the university and proximity to the center of town, provide a great location to students, staff and low to medium income professionals in the area. Historically a low maintenance rental property, Montclair still offers a significant opportunity for MCV to upgrade aesthetic qualities, increase rents and reduce expenses. In addition, the adjacent land is being purchased significantly under market value as a joint offering with the apartments. The result will be a safe and strong return on this investment for the partners at time of sale.
About Madison Capital Ventures
|Madison Capital Ventures, LLC (MCV) is a diversified firm that focuses on
uncovering and acquiring real estate and other prime investment
opportunities for individual and institutional investors. MCV also helps to
provide project and business entity funding through third party equity and
debt financing and offers sales consulting and assistance for clients with
promising market opportunities.
\Headquartered in Los Angeles with offices in San Diego and Phoenix, MCV evaluates potential investments throughout the western US and participates in real estate ventures through direct ownership, joint ventures and limited partnership arrangements.