Phoenix Capital Fund-US July Update

The Phoenix acquisition team is having a busy early summer after a strong winter of raising capital. In the month of June we purchased eight properties, primarily newer and larger townhomes that provide us with additional rental income and greater capital gains potential. We will purchase properties at the same rate through the end of July, as our acquisition team is continuing to find excellent deals.

Our June acquisitions include a 1,190 square-foot condominium in the Legends at Lone Mountain subdivision for $84,350. At just under $71 per square foot this unit was purchased well below market price and provides the fund with excellent capital gains potential.
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We currently have 159 properties, with three vacant, nine under renovation, and one reserved.

The UNLV Center for Business and Economic Research recently reported a positive outlook for Southern Nevada’s economy through the end of 2014. The tourism, gaming, construction and housing industries are predicted to move closer to their pre-recession levels and return to their long-term trends, says UNLV’s chief economist Stephen Brown. As the Las Vegas economy recovers and population numbers continue to grow, demand for housing will remain strong, which is excellent news for both rental income and real estate value appreciation.
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