Ron Cadman of InvestarUSA Featured on Business News Line for Acquisition of Land for New Multifamily Builds in Phoenix, Arizona
Industry: Real Estate
Ron Cadman, a seasoned real estate investor and developer with international industry experience, was recently featured on Business News Line due to his current efforts to acquire land for new multifamily builds in Phoenix, Arizona -- a growing market for this growing area of real estate.
Alberta, Canada (PRUnderground) August 29th, 2019
Cadman, a director of InvestarUSA, and his business partners were featured at Business News Line after contracting to purchase land spanning 1.75 acres in Phoenix to develop multifamily real estate. The company also plans to acquire extra land for additional multifamily properties. Their ultimate goal is to erect between 100 and 200 multifamily units within the next year.
The property that Cadman and his team are contracted to purchase can be found at 8849 South 7th Street in Phoenix. The multifamily property is expected to include both one bedroom-room units and twobedroom units. The design and land entitlement process is currently in progress, but Cadman said he anticipates the purchase of the land to be completed in the early part of 2020.
The current multifamily project is just one of many projects that Cadman has successfully pursued over the past three decades in the United States and Canada. Cadman is a major proponent of the build-to-rent strategy, which involves purchasing land and then using it to develop a brand-new apartment community. He has promoted this approach as an excellent way of producing passive income while retaining capital growth. The fact that this approach is also a viable solution to today’s housing shortage is also a reason why it is growing in popularity.
However, multifamily construction isn’t Cadman’s only area of expertise in real estate. He is also adept at renovating existing properties to bring more value to them. For example, Cadman and his brother, Travis, recently moved forward with renovating a property in Las Vegas called Stax, formerly Clark Studios. As part of the project amenities, Cadman plans to offer private patios for every unit and a robust technology package providing each resident the ultimate in convenience, comfort and control.
Other projects that Cadman and his InvestarUSA team have been working on recently include the renovations of two multifamily properties called Verve and The Avenue. The goal was to make Verve, in Baytown, Texas, stand out for its contemporary vibe and comfortable units. Meanwhile, The Avenue, in Houston, was intended to feature premium amenities, like a clubhouse and pool.
Cadman, who is from Reed Deer, Alberta, in Canada, continues to invest in both Canada and the United States with an outside-of-the-box approach to real estate. Cadman, who has also owned and operated a residential and multifamily construction Company, constantly develops strategies for capitalizing on market opportunities; in fact, it is his innovativeness and experience that enabled him to understand the opportunity of acquiring single family homes off the court house steps during the Great Recession.
Cadman’s goal, along with his team at InvestarUSA, is to continue to make the most of income-generation opportunities while also providing top-notch customer service to their properties’ tenants. They are also passionate about continuing to forge strong relationships with professionals from a variety of markets related to the real estate industry.
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