Crimson Ventures, Residential Investment Team Up
- Aug 01, 2016
Nashville, Tenn.—Crimson Ventures has announced a joint venture partnership with Residential Investment Advisors of Lebanon, Tenn., to acquire and manage multifamily real estate properties throughout the southeastern United States.
“Crimson Ventures sees this partnership as a diversification opportunity to complement our existing portfolio companies in technology and financial services,” Rob Walker, managing partner of Crimson Ventures, said in prepared remarks. “We needed to create some options for the subset of our co-investors who desire income potential in addition to long-term asset appreciation.”
“Partnering with Rob Walker and Crimson allows RIA to expand our ability to pursue selected investments in multifamily properties while still maintaining our day-to-day focus on operating our ever-growing brokerage business,” added David Childers, CEO of Residential Investment Advisors.
As part of the transaction, Walker and Childers will jointly lead the new entity, which already has one multifamily property under contract. That initial transaction is expected to close in September.
Image courtesy of Crimson Ventures