VictoryBase Corporation Closes on Multifamily Asset in Sackets Harbor, NY
Growth-oriented residential real estate investment and tech company continues expansion in historic Sackets Harbor, NY
VictoryBase Corporation adds 50-units to growing residential portfolio across the United States
SOUTHLAKE, TEXAS (February 10, 2023) – VictoryBase Corporation (the “Company”), a US-based company focused on providing residents with high quality housing and a unique pathway to equity ownership, today announced the closing of Creekside Apartments, a 50-unit multifamily building located in Sackets Harbor, New York. The acquisition was executed between Lawler Real Estate LLC and VictoryBase Real Estate LLC, with debt funding provided by Watertown Savings Bank. The asset is ultimately housed under VictoryBase Holdings, which is managed by VictoryBase Corporation. The asset has five apartment buildings consisting of 50 units between 1200-1300 sqft, in historic Sackets Harbor.
“The addition of Creekside Apartments to VictoryBase is a huge milestone in further expanding our real estate footprint in the northeast and our impact in military communities,” said Tom Paquin, CEO of VictoryBase. “We are excited to add this high-quality asset to our growing portfolio, allowing us to serve a community outside a US Army installation. We believe the area is an attractive multifamily market evidenced by continuous population and job growth – Fort Drum, NY is the home of the 10th Mountain Division and is the largest employer in the area. We look forward to implementing the VictoryBase platform for the Creekside residents, which will eventually include an opportunity to buy shares of VictoryBase Corporation through our Regulation A offering.”
In addition to the 50 existing units at Creekside, VBRE LLC plans to develop an additional 40-units on an adjacent parcel, which will drive economies of scale and potentially increase total value for VictoryBase and its stakeholders. Over the course of the first few years of ownership, VictoryBase plans to add value to the existing apartments by increasing management efficiencies and investing in upgrading in-unit amenities.
Contact us here if you would like to become a VictoryBase resident and to stay updated on operations of the company.
The acquisition of Creekside apartments marks VictoryBase Corporation’s second stabilized investment and brings total residential units the Company manages up to 90.
If you would like to learn about VictoryBase’s upcoming Regulation A financing (available to investors in the United States) and learn how you can become a co-owner of VictoryBase Corporation, join our mailing list here.
About VictoryBase Corporation
VictoryBase Corporation offers residents high quality homes with a unique pathway to equity ownership. Our mission is to enhance the quality of life and financial well-being of service members and their families, by enabling them to become shareholders in VictoryBase Corporation. By owning shares in our company, residents can enjoy a long-term investment that supports their financial future. To learn more about our unique ownership program and our high-quality homes, please visit our website at victorybase.com.
Forward-Looking Information
This news release contains statements and information that, to the extent that they are not historical fact, may constitute forward-looking information. Forward-looking information is typically, but not always, identified by the use of words such as "will", "projected", "expected" and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking information included in this news release is made as of the date of this news release.
For further information
Tom Paquin, Founder and CEO
TPaquin@Victorybase.com
1-817-521-4344
Alyssa Barry, Media and Investor Relations
alyssa@irlabs.ca
1-833-947-5227
