David Smith joins Canyon View Properties as Regional Property Manager
April 8, 2015
Canyon View Capital and Canyon View Properties are proud to announce David Smith as our Regional Property Manager for the Kansas City, MO region. David brings over 25 years’ worth of solid property management experience across the Kansas City and Texas region. He was responsible for over 2,400 units and 11 properties at his most recent position as Regional Manager at Maxus Properties. Prior to that, David led District Managers in both Texas and Kansas City, MO with a combined 4,500 units. David has experience in section 8, tax credits, and conventional properties. He is a licensed Real Estate agent in the state of Missouri and has his Accredited Resident Manager (ARM) designation in addition to holding 2 terms as the ARM Chairman for the Kansas City, MO division of the Institute of Real Estate Management.
“David brings a wealth of hands on and leadership experience and knowledge to CVC/CVP. We are thrilled to have him on our team” quoted Gary Rauscher, President of CVC/CVP. David will be responsible for the Kansas City, MO region for Canyon View Properties.
CVC purchases its first Senior Living Apartment Community and reaches 2,800 units!
December 5, 2014
Bowen Tower is a ten story Senior Living complex, our second property located in Raytown, MO (a suburb of Kansas City, MO). With 91 units, a café, recreational room, and a hair salon, Bowen Towers represents a new type of multifamily complex for CVC/CVP. Many capital improvements were done on the building prior to purchase including new windows and a majority of the roof. More repairs are planned for Bowen Tower. The complex is conveniently located minutes from Downtown Kansas City and other necessities such as pharmacies, restaurants, and shops. We are excited to have a new type of complex as part of our overall portfolio of multifamily complexes as we pass the 2,800 unit marker for the portfolio.
Woodlake Village adds 156 units to CVC’s Kansas City Portfolio
August 28, 2014
With our continued focus in the Kansas City, MO area, Canyon View Properties acquires Woodlake Village Apartments- located in Independence, MO. Set on a beautiful lake with 156 one and two bedroom units, Woodlake Village is centrally located around popular retail shopping, restaurants, and entertainment. Several apartments have vaulted ceilings, wood burning fireplaces, and lake views. A full workout facility, hot tub, sauna, and recreation room are open year round.
CVC Tops 2500 Units with Chamberland Square Acquisition
June 3, 2014
Canyon View Capital secures Chamberland Square Apartments into their portfolio bringing CVC’s portfolio holdings to 2,579 units. Chamberland Square, located in Fayetteville, Arkansas, is a 96 unit complex which includes studios and 1 and 2 bedroom units with many amenities. It is located in a pleasant setting close to great dining, shopping, and entertainment. Tenant mix includes locals, students, and faculty of the University of Arkansas. CVC purchased the property for $5.6M and financed $3.78M in a 3.65% loan. After just 2 months the property is already performing well above average with over 95% leased and the CVP property management team eagerly continues improving the property and tenant mix.
6th Annual CVC Shareholders Meeting
May 30, 2014
CVC held their annual Shareholders Meeting at the Hollins House at Pasatiempo Golf Course. Everyone enjoyed cocktails, wine, and delicious appetizers while our live band played elegant jazzy music in the background. New and old friends connected while the weather turned out a perfect spring evening on the veranda!
This year’s meeting was a bit different from years past, as we asked investors, in advance, for their most burning questions, which were answered in a formal Q & A session by the CVC Management Team. Questions ranged from “how are we covered if a tornado hit?” to “what are the real tax advantages of the Balanced Fund?” Informative individual presentations from each division were also shared on past performance and future goals.
Teresa Bruno, one of our Regional Operations Managers from the Midwest, gave an informative update of how the operations team has been training and preparing for the continued expansion of the CVC portfolio. The big announcement of the evening was the creation of Canyon View Properties (CVP), headed up by Zack Davidson, who has been running the CVC operations for the last 8 years and oversees over 75 employees. Gary Rauscher is now President and CFO of CVC, while Bob Davidson continues to lead the firm as our CEO and head visionary. Alison Ruday is now the Vice President of Marketing & Investor Relations and this team is expanding as the needs of investors continue to evolve.
Comments from those in attendance ranged from “this is the BEST meeting CVC has ever had!” to “The ambiance, live music, food, and information were absolutely wonderful and on point!” to “Can we have it here again next year?!” We sure hope we can repeat the experience in 2015 and we hope you will join us again next May!
Golden Pond Apartments puts Safety First!
January 18, 2014
In cooperation with the Springfield Police Department, Golden Pond is the FIRST apartment complex to adopt and participate in the new pilot program designed to make apartment living safer. Apartment Watch is similar to the neighborhood watch programs found across the country. In addition to having an on-site security officer (who also works for the local Sheriff’s Department), Property Manager Kathy Johnson had her entire team go through safety training and signs will be placed throughout the complex. Congratulations to the Golden Pond team on being a leader in the Springfield area! Well Done!
Read both articles here and here.
CVC’s portfolio reaches $150M+ of assets in 2013!
December 31, 2013
It has been a very busy year for Canyon View Capital (CVC). In the last week of the year, CVC closed three additional properties, bringing their portfolio to $150M+ and just under 2,500 units. Two of the properties are located in Kansas City, MO and one is located in Raytown, MO. On December 19th, 2013, CVC added 144 apartment units at Brittany Place for $3.85M.
On December 31, 2013, CVC added The Fountains at Linden Woods Apartments for $8.62M which comprises 216 units. They also added The Fountains at Lindenwoods Duplexes for $2.13M which comprises 28 duplex units. This brings CVC’s total portfolio to $150M+ and 2,483 units. The CVC operations team worked diligently through the holidays to bring these new properties into the portfolio.
CVC purchases Brittany Place Apartments
December 19, 2013
Canyon View Capital purchases Brittany Place Apartments in Raytown, MO expanding our focus on this Kansas City region for our portfolio. With 10 buildings and 144 units consisting of one, two and three bedroom units, this garden complex offers a nice blend to our portfolio. Expansion plans for this region continue for Canyon View Capital and Canyon View Properties as we currently hold three total properties in the Kansas City, MO area.
Final Phase of Golden Pond purchased
November 30, 2013
On November 30, 2013, Canyon View Capital (CVC) purchased the final phase of the Golden Pond Apartments complex, adding 122 units and $7.47M to their portfolio. This purchase brings 100% ownership of Golden Pond Apartments to Canyon View Capital. CVC took over property management in January 2013 and will continue managing, improving and operating this property. CVC’s Midwest corporate offices were formerly located within this facility, however, they are expanding and moving the corporate offices offsite. They will continue to maintain an on-site leasing office.
Canyon View Capital on TV and Sponsors the Women In Business Leadership Forum
September 23, 2013
Through one of our sponsorship opportunities, Canyon View Capital filmed a commercial alongside the Women In Business Leadership Forum through the Santa Cruz Chamber of Commerce. Airing almost 20 different times over the course of 2 weeks (starting on 9/23), we are excited to continue to create a presence for Canyon View Capital in the local market. We are honored to support this fabulous event for women in our community. For the past 11 years, the Women In Business Leadership Forum has been inspiring and supporting women in both their professional and personal lives.
Alison Ruday, our Communications/ Investor Relations Director, has been a part of the committee which creates, organizes, and executes this entire event. Through both volunteering our time and being sponsors, CVC continues its commitment to supporting women through this very special event.
To View the Commercial via Youtube, click here.
New Purchase in a New Area: The Trails at the Ridge
September 12, 2013
Canyon View Capital enters a new city with a new $6,750,000 purchase in Kansas City, MO. The Trails at the Ridge is a property consisting of 200 one and two bedroom units. This property is highly desirable and offers great amenities like private decks, covered stairways, upgraded kitchens and stylish archway openings to the living rooms. Financing for this purchase was done through Santa Cruz County Bank and Chambers Bank located in Danville, Arkansas, plus over $1.2M in 1031 exchanges through our investors. Our 1031 Exchange program is quickly becoming a highly sought after option for our investors due to our unique long term options which include entry into the Balanced Fund within 12 months of the initial exchange, and with benefits including access to one’s original principle while maintaining the quarterly earnings and tax advantages of both the 1031 exchange and the Balanced Fund. Call our offices (831) 480-6335 for details or to discuss your unique situation – press 4 for Investor Relations.
CVC Sponsors Golf Tournament Benefiting Senior Citizens Legal Services
August 30, 2013
For 25+ years, Senior Citizens Legal Services has provided low income seniors affordable legal services. In the past several years, in support of this very important service, the Santa Cruz County Trial Lawyers Association has organized a “Charity Golf Tournament” on their behalf. This year, Canyon View Capital had the honor of being a Corporate Sponsor at the tournament. As a result, CVC was highlighted in various different ways on the course and in the advertising for this event. In addition to our sponsorship, we hosted a hospitality “Watering Hole” on the 3rd Tee at the DeLaveaga golf course in Santa Cruz. CEO, Bob Davidson and CFO, Gary Rauscher both played in the tournament to support a truly great cause for our local seniors.
2012-13 CVC Annual Shareholders Meeting
May 31, 2013
On Friday, May 31st, 2013, Canyon View Capital held its Annual Shareholders meeting at the Seymour Marine lab on the coast of Santa Cruz. Filled with good conversation, delicious food and drink, shareholders, friends, and family were treated to a review of CVC’s accomplishments in 2012 and a peak into 2013. CEO Bob Davidson revealed the long awaited “Succession Plan”, CFO Gary Rauscher reviewed the earnings and overall corporate goals and objectives while COO, Zack Davidson, gave an upbeat (and humorous) review of the “State of Operations.” Dylan Tucker, CVC Financial Analyst, gave an insight into the CVC website and online investor portal while Alison Ruday, Director of Investor Relations acted as MC and presented both accomplishments and future goals in the area of marketing and communications. Giveaways for the evening included private label Canyon View Capital wines – which were well received by our members.
After 31 years CVC Sells the Water Street Property
April 16, 2013
This partnership was created in 1981. The decision to sell was made as CVC continues to shift their focus to multifamily properties. This investment is a great example of CVC’s long term hold strategy. The investor’s capital was not only paid back years ago, but the property continued producing dividends throughout the life of the deal. The property was sold at a price of $1.490M which is a decent return on the initial purchase price of $575K. The CVC proceeds will go toward new properties for the CVC portfolio.
Two More Phases at Golden Pond Purchased by CVC
December 27, 2012
In December 2012, Canyon View Capital continued their purchase of Golden Pond Apartments with phases 4 and 5 of the complex in Springfield, MO. Phase 4 included 91 fully built units and Phase 5 is land which is approved for 180 more units. CVC will decide when to build out that part of the property in the coming years. Once again, Santa Cruz County Bank provided the bridge loan for this purchase – $4.385M at 5.25%. CVC will be moving this to a permanent loan in 2014. As of January 1, 2013, Canyon View Capital will assume full property management responsibility of this property and will purchase the final phase in 2013.
Park Place Apartments Refinanced
November 20, 2012
Purchased in August 2012, Canyon View Capital refinanced the bridge loan for their Park Place property, located in Springfield, MO, with a permanent 10 year loan through Fannie Mae for $3.150M at 3.98%. In this transaction, CVC paid off the Santa Cruz County Bank (SCCB) bridge loan. SCCB continues to be a great partner with CVC. SCCB originally performed on this bridge loan within a 2 week time frame – which displayed the strong, long-term business relationship SCCB has with CVC.
CVC In The Media
October 23, 2012
With Q3 2012 earnings, Canyon View Capital made both the local paper and CNBC.com and Yahoo Finance. Click here to read how we were highlighted along with our local banking partner, Santa Cruz County Bank, who went outside their normal reach to support our most recent property purchase, Park Place.
Press Release – as published in CNBC.com & Yahoo Finance.com
Santa Cruz Sentinel
CVC Purchases Golden Pond Phase 3
September 4, 2012
In September 2012, Canyon View Capital purchased Phase 3 which included an additional 96 units of the Golden Pond Apartment property, located in Springfield, MO. CVC assumed a $5.4M loan from the former owner through Nationwide Life Insurance Company at 5.82%. CVC now owns a total of 218 apartment units at the Golden Pond Complex. Over the next 12 months, CVC will purchase the final phases of this property and take over property management.
CVC Purchases Park Place
August 31, 2012
Canyon View Capital purchases 152 units in Springfield, MO in the third quarter. This marks the 13th property for CVC. Zack Davidson, Canyon View Capital’s Chief Operating Officer resides in Springfield and is eager to make property improvements including some green initiatives that will attract new residents and be an upgrade for current residents. Welcoming new staff members, Davidson said, “our team is eager to work with those who qualify and are looking for affordable housing to create a sense of community at Park Place.”
Click here for details.
Water Street Listed for Sale
June 6, 2012
After more than 30 years, the partners of Water Street Center Investors have decided to sell this commercial property located in Santa Cruz, CA. After careful examination of the asset, we have determined that it is no longer a good fit in CVC’s investment portfolio. This follows CVC’s decision to move investments out of commercial properties and into additional multifamily complexes. This sale will help finance acquisition of the remaining Golden Pond phases over the next year. Hirsch & Associates has listed the property for sale as of June 6th with an asking price of $ 1,675,000.
Park Place in Contract
June 5, 2012
We are pleased to announce that CVC has entered into contract on a new multifamily complex called Park Place. The property is located in Springfield, MO just down the road from both Old Stone and Golden Pond as well as our Midwest office. The property comprises 152 units and is a tax credit property. Park Place should close in the next 90 to 120 days. Check out our Park Place page in the coming soon section!
April 18, 2012
After several months of negotiations, Crestwood Manor has been refinanced through Freddie Mac. The new loan has a payment and interest rate fixed for 10 years (amortized over 30 years). The interest rate is only 4.22% (down from 7%). This is currently the lowest rate in CVC’s portfolio and will save Crestwood roughly $ 120,000 per year in interest expense. The loan also requires certain improvements be made to the property in the next six months. Notably, Crestwood will receive new roofing, parking lot repaving, and pool resurfacing.