NASHVILLE, Tenn., July 27, 2016 /PRNewswire/ -- Crimson Ventures today announced a joint venture partnership with Residential Investment Advisors of Lebanon, Tenn., to acquire and manage multi-family 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," Managing Partner Rob Walker said. "We needed to create some options for the subset of our co-investors who desire income potential in addition to long-term asset appreciation."
David Childers, CEO of Residential Investment Advisors, commented, "Partnering with Rob Walker and Crimson allows RIA to expand our ability to pursue selected investments in multi-family properties while still maintaining our day-to-day focus on operating our ever-growing brokerage business."
As part of the transaction, Walker and Childers will jointly lead the new entity, which already has one multi-family property under contract. That initial transaction is expected to close in September.
About Crimson Ventures: Crimson Ventures, based near Nashville, Tenn., began operations in 2016 although its history via predecessor companies dates back to 1993. Crimson is a management consulting and angel investing company with more than 20 years of experiences assisting companies at key inflection points such as hyper-growth, capital raising, M&A transactions, business exits, turn-arounds and more. Additional information is available at www.CrimsonVenturesLLC.com.
About Residential Investment Advisors: RIA is a highly successful real estate brokerage firm completing more than 125 transactions in smaller to midsized multi-family properties throughout Tennessee and the southeast. Additional information is available at www.RIA-INC.com.
SOURCE Crimson Ventures