Armada Venture Partners LLC
01/20/2026 | Press release | Archived content
2025 Year in Review: Momentum Through a Challenging Market
Overview
2025 was a meaningful year for Armada.
The commercial real estate landscape continued to test patience and discipline, with sustained higher interest rates, tighter capital availability, and fewer transactions across the market. Throughout the year, we stayed consistent in our approach, prioritizing thoughtful execution, long-term alignment, and partnerships built on trust. As our portfolio has grown, so too has our team, our operating partner relationships, and our presence across markets, all in a measured and intentional way.
Armada Updates: Growth Beyond the Balance Sheet
This year, we welcomed Joe Plastino to Armada as Senior Associate, strengthening our team as we continue to grow. Joe brings a strong analytical foundation and transaction experience that enhances our ability to support investments from underwriting through execution and ongoing asset management.
While many firms chose to pause activity in 2025, we remained selective and deliberate in our work. Building on the foundation of AVP Opportunity Fund I, which we anticipate the full return of capital and all proceeds to our investors in 2026, we successfully launched AVP Opportunity Fund II and closed four transactions during the year. In total, we deployed ~$16 million of preferred equity capital in 2025, reflecting steady progress through a challenging market environment.
AVP Opportunity Fund II - 2025 Closings
AVP Pines at Humble Park | Houston, TX
Investment: $3,915,000 Preferred Equity
Closing Date: June 30, 2025
Units: 170 | Class B
AVP Opportunity Fund II closed a preferred equity investment in Pines at Humble Park, a 170-unit Class B apartment community in Humble, Texas Houston. Armada's capital funded the completion of a value-add business plan and supported a three-year extension of the existing $17.2 million senior loan with Voya.
The operating partner, Triton North, is an experienced Miami-based developer with a strong Texas footprint. This investment reflects Armada's focus on durable cash-flowing assets in high-growth markets.
AVP Michelle | Yorktown, IN
Investment: $2,700,000 Preferred Equity
Closing Date: August 15, 2025
Units: 90 | Class A New Development
AVP Opportunity Fund II closed a preferred equity investment in The Michelle, a 90-unit Class A multifamily development in Yorktown, Indiana, alongside repeat partner The Ridge Group.
Armada's capital supports vertical construction and lease-up, complemented by $2.7 million in TIF proceeds that lower the project's effective basis and thus enhance our downside protection. Groundbreaking began in July 2025, with lease-up targeted for mid-2026 and stabilization anticipated in early 2027.
AVP Kensington | Philadelphia, PA
Investment: $5,550,000 Preferred Equity
Closing Date: December 24, 2025
Units: 247 | Portfolio of 8 Properties
Armada closed a preferred equity investment backing GM Holdings' eight-property, 247-unit multifamily portfolio in North Kensington, Philadelphia. The investment funds capital improvements and working capital while supporting an anticipated sale to the Philadelphia Housing Authority.
The portfolio carries a $46 million CMBS loan structured to permit preferred equity, with repayment expected from sale proceeds. The operating partner, George Manosis, is a 40-year real estate veteran with a 150+ property portfolio and a tremendous track record of strengthening neighborhoods in Greater Philadelphia.
AVP Washington | Eau Claire, WI
Investment: $4,880,000 Preferred Equity
Closing Date: December 31, 2025
Units: 200 | Class A Redevelopment
AVP Opportunity Fund II closed a preferred equity investment in The Washington, a 200-unit Class A multifamily redevelopment in Eau Claire, Wisconsin. The project combines adaptive reuse of the historic Mount Washington structure with two new mid-rise buildings on a 10-acre riverfront site.
Armada's capital funds vertical construction and lease-up, with a refinance takeout targeted at stabilization. The operating partner, Altitude Capital Partners, is a Chicago-based firm with significant Midwest development experience.
Looking Ahead
As we move into 2026, our focus remains simple: continuing to work hard the right way with the right people.
In 2025, we deployed over $16 million across AVP Opportunity Fund II and built a robust pipeline that positions us well heading into the coming year. That progress reflects not just transactions completed, but the strength of the relationships and collaboration behind each one.
We remain committed to strengthening our team as Armada grows, being thoughtful about how we scale, how we support our partners, and how we show up for the work behind the scenes. None of this is possible without the trust and engagement of our investors, operating partners, sponsors, vendors, and broader network. We value these relationships deeply and are grateful for the role each plays in our continued progress.
The past year reinforced the importance of patience, discipline, and perspective. While market conditions remain challenging, we believe this represents the most compelling environment for our strategy. Market valuations have reset, allowing us to invest at today's discounted levels while maintaining an average of approximately 30% additional downside protection. At the same time, we are providing our real estate operating partners with a bridge to healthier, more supply-constrained markets over the next two to three years.
We remain optimistic and measured in our approach, focused on thoughtful execution, clear communication, and long-term alignment. We will continue raising capital for AVP Opportunity Fund II through December 2026, moving forward with intention and discipline as opportunities arise.
We're thankful for the continued confidence placed in Armada and appreciate our shared commitment to long-term outcomes.
Armada Venture Partners LLC published this content on January 20, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 04, 2026 at 21:59 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]