New Orleans-based real estate private equity firm adds to its multi-family portfolio, this time in Arizona
NEW ORLEANS, LA – (Nov. 9, 2023) – Kodiak Partners, a dynamic real estate investment firm specializing in strategic acquisitions and developments in the Gulf-South region of the United States, has recently completed the acquisition of a new multi-family property in Kingman, Arizona. The purchase, valued at $495,000, was accomplished through a seamless partnership with a local investment group.
"We’re thrilled to announce the acquisition of this property," said Sam McGovern, Managing Partner of Kodiak Partners. "This investment aligns perfectly with our mission to acquire value-add multi-family properties that also ensure a smooth acquisition process for our clients. Our collaboration with the local team here has been instrumental in securing this deal, and we are excited about the future prospects this property holds."
Iconic Location
This strategic acquisition marks Kodiak’s commitment to expanding its presence and investment throughout the United States. The property is located in the historic town of Kingman and consists of 7 units, each featuring 2 bedrooms and 1 bathroom. Positioned right off Route 66, the iconic highway home to the Route 66 Museum, the property benefits from substantial tourism traffic, making it a lucrative investment opportunity.
The turnkey property has a new roof and new underground plumbing, presenting a unique opportunity for Kodiak Partners to add value by optimizing rental rates to market levels. Kingman's proximity to the Grand Canyon, just 70 miles away, further enhances the property's appeal, promising not only a solid return on investment but also the potential for long-term growth.
Seamless Acquisitions + A Smooth Transaction Process
The previous owner, facing health challenges and residing out of state, sought a swift and hassle-free transaction. Kodiak delivered on this need, ensuring an efficient, quick closing and an as-is sale.
Kodiak Partners' diverse team of real estate professionals, with expertise in finance, construction management, and transaction coordination, played a pivotal role in the acquisition process. Their ability to identify and capitalize on promising investment opportunities continues to drive Kodiak Partners' success in the competitive real estate landscape.