SAN DIEGO, April 21, 2017 /PRNewswire/ -- Virtua High Growth
Fund (VHGF) has completed the sale of its interest in Patchen Oaks
Apartments, a 192 unit apartment complex located in Lexington, Kentucky.
In March 2016, VHGF purchased a
minority interest in the Patchen Oaks property based on an equity
valuation of $1,066,428. The
apartment project was sold on April
20th with net proceeds of $4,812,188, which represents a fund level return
of 317% IRR, or approximately 4.5X multiple.
"This is a strong return for our investors, even after adjusting
for risk," commented Virtua principal Quinn
Palomino. "The Patchen Oaks investment is part of our high
growth series of funds and syndications, which are designed to
produce capital gains for our investors."
VHGF invests in commercial real estate, usually as preferred
equity or common equity. Currently, realized investments in
the fund have produced a fund level IRR of over 100%. Virtua
specializes in deep value, off market transactions. Many of
the high growth investments have a restructuring component.
"It's very important for investors to understand the risk
profile of each investment," said Derek
Uldricks, President of Virtua Capital Management. "In
particular, aggressive growth investments should be carefully
evaluated in order to determine their suitability for an individual
portfolio."
About Virtua Partners:
Virtua Partners is a private equity firm specializing in
commercial real estate. Virtua sponsors a variety of funds
and commercial real estate projects across the country.
Investment products include fixed income, growth to income,
growth, and aggressive growth. Through its affiliates, Virtua
provides debt and equity origination, asset and property
management, workout consulting, development, and fund
management.
Please visit http://www.virtuapartners.com to learn more about
our investor services.
Media contact:
Derek Uldricks
619.764.9633
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SOURCE Virtua Partners