SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Over 90 days, Virtua Partners, a global private-equity real-estate investment manager, fully-funded three of its Opportunity Zone projects. In fact, equity for all three projects was fully-committed within a week of each launch. These three projects represent varying investment strategies that Virtua Partners pursues under its Opportunity Zone initiative.
The three projects all located within qualified Opportunity Zones include:
- 71-unit townhome development in Glendale, Arizona
- 90-unit single family rental development in Tempe, Arizona
- 128-room SpringHill Suites Marriott in Avondale, Arizona
“Virtua Partners has seen significant demand from investors, which we believe certifies our investment philosophy as it relates to Opportunity Zones,” says Derek Uldricks, President of Virtua Capital Management. “The velocity of capital commitment showcases investors’ belief in the quality of our deals and ability to execute.”
As Virtua Partners is the first private equity firm to launch a qualified Opportunity Zone fund, it’s no surprise that equity for each of these projects was fully-committed just days after launch. This highlights that Virtua Partner’s selection, development and funding initiatives produce potentially high-quality Opportunity Zone investments that attract investors and establish industry qualifications for success. Virtua Partners relies on what it feels are strong environmental, social and economic factors that contribute to the advancement of communities. With over 100 projects in the Virtua Partner’s pipeline, investors have a chance to participate in this potential growth with its Opportunity Zone funds.
“It is our belief that Virtua Partners is strategically positioned to grow with the socially conscious investor. We want Opportunity Zone-directed investments to be at the forefront of social impact investing, and we believe that could be accomplished with the demand we’ve seen,” says Co-Founder and Chief Executive Officer of Virtua Partners Quinn Palomino. “Our projects seek to build developments that bring jobs and economic activity to struggling communities.”
About Virtua Partners:
Virtua Partners is a global private-equity firm specializing in commercial real estate. The firm and its affiliates sponsor a variety of investment funds and commercial real estate projects across the United States and currently have 16 million square feet of assets under management or development.
Virtua Partners’ goal is to provide superior risk-adjusted returns for high-net-worth individuals and family offices through comprehensive strategies, rigorous underwriting, and careful execution.
The contents of this communication: (i) do not constitute an offer of securities or a solicitation of an offer to buy securities, (ii) offers can be made only by the confidential Private Placement Memorandum (the “PPM”) which is available upon request, (iii) do not and cannot replace the PPM and is qualified in its entirety by the PPM, and (iv) may not be relied upon in making an investment decision related to any investment offering by the issuing company, or any affiliate, or partner thereof ("Virtua"). All potential investors must read the PPM and no person may invest without acknowledging receipt and complete review of the PPM. There is no assurance that investment objectives of any program will be attained. Consult the PPM for investment conditions, risk factors, minimum requirements, fees and expenses and other pertinent information with respect to any investment. These investment opportunities have not been registered under the Securities Act of 1933 and are being offered pursuant to an exemption therefrom and from applicable state securities laws. Past performance are no guarantee of future results. All information is subject to change. You should always consult a tax professional prior to investing. Investment offerings and investment decisions may only be made on the basis of a confidential private placement memorandum issued by Virtua, or one of its partner/issuers. Virtua does not warrant the accuracy or completeness of the information contained herein.
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