SAN FRANCISCO, CA — (Marketwired) — 08/27/13 — Virtú Investments, LLC, a San Francisco-based real estate investment management firm, announced today that it has opened its third discretionary equity fund, The Virtú Multifamily Opportunity Fund-III, LP. The Virtú Multifamily Opportunity Fund-III, LP (Fund-III) 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.
“We are seeing several under-exploited areas within the spectrum of multifamily investing,” said Michael Green, Virtú-s CEO. “With institutional funds chasing the larger and newer properties in core markets, we believe the best risk-adjusted returns can be found in smaller but well-located properties in markets that are outside of the urban core.”
Following the successful deployment of The Virtú Multifamily Opportunity Funds I and II in 2011, 2012, and 2013, Virtú created Fund-III to allow its investors to continue to take advantage of the ongoing opportunities in the multifamily market. “We-re really pleased with the investments made in Funds I and II, and expect Fund-III will also be able to take advantage this period of strong operating fundamentals, low capital costs, and a persisting supply and demand imbalance,” said Mr. Green.
In combination with Virtú-s traditional value-add strategies, Fund-III 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.
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 to discuss The Virtú Multifamily Opportunity Fund-III, or any media inquiries regarding Virtú Investments.
This release contains forward-looking statements relating to the business and financial outlook of The Virtú Multifamily Opportunity Fund-III, L.P. that are based on our current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements.
Duncan Hatch
(415) 398-2086