VictoryBase RE LLC Secures Land Outside of Luke AFB
VictoryBase RE LLC acquires 26.6 acres of land in Arizona, supporting a future community of 178 homes.
SOUTHLAKE, TEXAS (June 1, 2022) – VictoryBase RE LLC (VBRE), an affiliate company of VictoryBase Corporation that acquires, develops, and stabilizes residential real estate assets, is thrilled to announce the acquisition of a new property in Phoenix, Arizona. This strategic purchase of land will allow VBRE to expand its portfolio into a new market, building 178 new single-family homes that will support Luke AFB, the largest single-site employer in all of Phoenix. This acquisition further strengthens VBRE’s balance sheet and opens more investment opportunities to support growth.
The property, originally zoned for 2 units per acre, was successfully improved to 6.7 units per acre through diligent efforts led by John Sharkey, VBRE’s COO. "We saw a great opportunity for a large community next to Luke Air Force Base, and we were able to increase density when others couldn’t. This created an amazing opportunity for us, and we are excited to develop this land into a beautiful community to support 178 families living in this area," said John Sharkey. "This market continues to be one of the top in the country for net migration, and we also anticipate continued growth at Luke AFB as the Air Force expands its fighter pilot program. We are excited to provide more quality housing in such a strong market."
VBRE LLC will collaborate with regional builders and city authorities to maximize the quality of the community, with an expected start date for construction in the summer of 2024.
About VictoryBase RE LLC
VictoryBase RE, LLC (VBRE) is a real estate firm specializing in the development and acquisition of properties in proximity to U.S. military bases and other relevant markets. VBRE collaborates with various partners to secure these properties. Through different arrangements, VBRE contributes select properties to VictoryBase Holdings, LLC (Holdings) in exchange for cash and/or units. Holdings is managed by VictoryBase Corporation. The decision to contribute properties to Holdings is based on the strategic goals of both VBRE and Holdings as they work to develop and manage appropriate properties. For more information on VictoryBase Corporation and its affiliated companies, please consult the VictoryBase Corporation's SEC Form 1-A filing. 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.
VictoryBase is strategically designed to improve the quality of life and financial future of services members and their families by offering ownership of VictoryBase Corporation to residents, thereby allowing residents to own shares they can keep as a long-term investment. Learn more 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
