Long Beach, CA – July 1, 2016 – NNC Apartment Ventures LLC, a limited liability company focused on investments in and operating apartment communities, announced that it has acquired three new properties in Southern California. The purchase of Imperial Villas, 8127 Imperial, and 738 Ogden will complement NNC’s portfolio by providing exposure to different locations in Southern California along with great growth potential and will serve to enhance its portfolio size. The three new acquired properties, totaling $19,100,000, together with the previous 2016 acquisitions worth $41,390,000 – have added $60,490,000 to NNC’s portfolio of assets in Southern California. NNC Apartment Ventures will continue to seek out new opportunities and aim to provide stable cash flows and profitable returns for its investors.
“The Los Angeles County market has shown favorable qualities in which smart investment and proper management could be highly rewarded. Due to our experience with the Southern California market, we believe that our investments in Downey and Los Angeles would provide great value to our portfolio, our investors and our management team. We will apply our expertise and experience to manage and redevelop our investments to increase their value during the holding period. In the end, we hope to sell these investments for a return greater than the market average.” – John H. Nunn, Managing Member and Investment Officer of NNC.