Home News Virtua Funds Three Arizona Opportunity Zone Projects in 90 Days

Virtua Funds Three Arizona Opportunity Zone Projects in 90 Days

Virtua Partners, a global private equity real-estate investment manager, fully-funded three of its opportunity zone projects in 90 days.

Virtua Partners, a global private equity real-estate investment manager, fully-funded three of its opportunity zone projects in 90 days, the company said, noting that equity for all three projects was fully-committed within a week of each launch.

The three projects represent varying investment strategies that Virtua pursues under its opportunity zone initiative and 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

“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.”

Virtua’s 90-unit apartment development in Tempe recently broke ground and is expected to be completed in late 2020, as reported by The DI Wire.

Virtua Partners 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.

Click here to visit The DI Wire directory sponsor page.