× Main Page Fashion Lifestyle Outdoor Home Travel Real Estate Business

REAL ESTATE - COMPANY NEWS

Virtua Partners Completes Virtua Land Acquisition Fund I

Friday, December 8, 2017

Virtua Partners

REAL ESTATE - COMPANY NEWS

Source : Virtua Partners

Facebook Share Twitter Tweet Google Plus Share

Private equity firm Virtua Partners announced this week that affiliate Virtua Capital Management has closed the Virtua Land Acquisition Fund I ("VLAF I"). VLAF I is under contract to purchase thirteen properties located in the fast growing Southwestern cities of Mesa, Phoenix, Tempe, Glendale, Avondale, Goodyear, and Leander. The total purchase price for the thirteen properties is $22,178,111, with total acreage of +/- 269.85.

VLAF I focuses on entry level and step up residential properties, including single family residential, townhouses, and multi family. One of the projects is mixed use, and all of the projects are infill. Virtua expects to sell fully entitled lots to home builders, or build the projects through affiliate Quyp Development.

"We are excited to complete our first land acquisition fund," said Quinn Palomino, Co-Founder of Virtua Partners. "Up until now we capitalized our projects individually. The fund structure allows us to increase scale and improve efficiency."

"We continue to be bullish on the economic outlook for the Southwestern and Southeastern United States," said Nick Montague, President of Quyp Development. "The underlying economic fundamentals are strong in Phoenix, Austin, Dallas and Atlanta. We believe that the economic expansion will continue and that these markets will benefit disproportionately."





LATEST POSTS
Glosfer, a blockchain company, held the Infinity Project Unpacked Event on 16 December 2017 in Seoul, South Korea.
Two leaders in supersonic technology, Aerion and Lockheed Martin (NYSE: LMT) announced a Memorandum of Understanding (MOU) today to define a formal and gated process to explore the feasibility of a joint development ...
An alluring combination of contemporary geometric lines and subtle design details, the new Studio S collection of bath and shower faucets from American Standard highlights thought-provoking styling and unmatched performance.
Realtor.com today unveiled The Big Move, an original video series that tells the story of a young military family as they search for and make their dream home become a reality.