Grandview and Sunwood Apartments
Ventura Enterprises purchased the 20-acre, 450-unit Grandview Apartments and the
10-acre, 258-unit Sunwood Apartments in 2005 for $34 million. Sam Ventura’s
efforts resulted in the land being re-zoned for 3000 apartments and 500,000 squarefoot
commercial mixed-use. Market value as of fourth quarter, 2011 was $50 million.
Ventura Enterprises purchased The Meadows apartment complex in 2006 for $20
million, completing the 256-unit condominium conversion by 2007. Condominiums
have been sold individually for a total of $35 million with an additional $2 million
renovation expenditure resulting in a $13 million profit. Ventura held the property for
18 months before selling the remaining units in March 2011.
Cambridge Tower Apartments
Ventura Enterprises purchased the 210-unit Cambridge Tower Apartments in 2007
for $21 million. The property was managed by the company from the purchase until
the beginning of 2011 when refinancing was secured through FreddieMac and
management changed hands. Ventura Enterprises received approval for
entitlements allowing an additional two towers, adding 265 units. The property is
now well positioned for a senior housing development valued at $36 million.
Town Terrace Apartments
Town Terrace Apartments was purchased by the company in 2007 for $5 million. The
50-unit high-end apartment complex has been re-zoned as condominiums. Ventura
Enterprises managed the property and maintained a 98% occupancy or greater until
selling in May 2012 for $5.5 million.
Ventura Enterprises purchased the 8.5 acre, 399 -unit apartment complex in 2006
for $35 million with intent to sell for land value to the Las Vegas Convention & Visitor
In 1990, Ventura Enterprises purchased a self-storage facility on 5 acres for $4.5
million. By 1994, the land had been sold to Stations Casino for $7.75 million. In 1995, Ventura constructed a self-storage facility with 1500 units, as well as an RV and boat parking. The business is currently owned and operated by Ventura Enterprises and was appraised for $9 million in December of 2011. Expanding their self-storage business, in 2001, Ventura Enterprises purchased 7 acres with 105,000 square feet of self-storage and commercial space. A 2006 expansion added an additional 75,000 square feet of boat and RV facilities, as well as 1300 storage units. Currently owned and operated by Ventura Enterprises the property was appraised for $9.5 million in December of 2011.