SOURCE: Virtu Investments

Virtu Investments

February 05, 2013 06:30 ET

Virtu Investments, LLC Closes a $30M Discretionary Equity Fund

Fund Targets Acquisition, Renovation, and Green Retrofitting of Multifamily Properties

SAN FRANCISCO, CA--(Marketwire - Feb 5, 2013) - Virtú Investments, LLC, a San Francisco-based real estate investment management firm, announced today that it has closed its second discretionary equity fund, The Virtú Multifamily Opportunity Fund-II, LP. The Virtú Multifamily Opportunity Fund-II, LP (Fund-II) is investing in the acquisition, renovation, and repositioning of apartment properties in the Western United States. Fund operations include a significant focus on deploying cost-effective energy and water efficiency retrofits as well as other green building improvements.

In conjunction with the closing, The Virtú Multifamily Opportunity Fund-II acquired six assets in markets that include Seattle, Texas, and Northern California. "We're already more than 65% deployed and expect to have Fund-II fully invested by mid-2013," said Michael Green, Virtú's CEO. "With strong operating fundamentals, historically low capital costs, and a favorable supply/demand picture, we really like this vintage of apartment acquisitions."

Following the deployment of The Virtú Multifamily Opportunity Fund-I in 2011 and 2012, Virtú created Fund-II to allow its investors to continue to take advantage of the ongoing opportunities in the multifamily market. "We're extremely pleased with the investments made for Fund-I, and wanted to make sure Fund-II could immediately step in and capitalize on the remainder of the opportunistic period of this investment cycle," said Mr. Green. "With only a six month marketing window, Fund-II subscribed quickly through a combination of existing and new investors."

In combination with Virtú's traditional value-add strategies, Fund-II is utilizing Virtú's proprietary GreenLiving Sustainability Program. In an effort to drive measurable gains in energy and water efficiency, Virtú developed the GreenLiving Program to take advantage of public funding, proven technologies, best-of-breed partners, and the emerging green expectations of tenants. "Having successfully deployed our GreenLiving Program in Fund-I, we look forward to continuing this effort within our Fund-II portfolio," said Mr. Green.

About Virtú Investments
Virtú Investments, LLC was built to create high-yield opportunities in the multifamily investment market. During its fifteen years of operation, Virtú has acquired $1B in real estate and operated more than 12,000 apartment units across 85 properties in the Western US. The firm is well positioned to generate strong risk adjusted investment opportunities during every phase of a real estate cycle. Virtú has refined an integrated and highly responsive operating platform that is unique in the industry. In-house services are composed of acquisitions, due diligence, finance, asset management, property management, efficiency retrofitting, information technology, and accounting/tax preparation. Virtú's offices are in Larkspur, CA, Carlsbad, CA, Seattle, WA and Scottsdale, AZ.

Contact Duncan Hatch at (415) 398-2086 or dhatch@virtuinvestments.com to discuss The Virtú Multifamily Opportunity Fund-II, or any media inquiries regarding Virtú Investments.

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