Virtua Partners: 3 New Arizona Opportunity Zone Projects

Muni bond funds are making positive investing headlines so far in 2017.

Opportunity zone projects in Glendale, Tempe and Avondale were funded in days.

SCOTTSDALE, ARIZONA — Over 90 days, Virtua Partners, a global private-equity real-estate investment manager, fully-funded three new Opportunity Zone projects in Arizona. The three projects include:

  • 71-unit town home development in Glendale
  • 90-unit single family rental development in Tempe
  • 128-room SpringHill Suites Marriott in Avondale

Equity for each of these projects was fully-committed just days after launch.

Virtua Partners, the first private equity firm to launch a qualified Opportunity Zone fund, relies on strong environmental, social and economic factors that contribute to the advancement of communities, according to the announcement. With more than 100 projects in Virtua Partner’s pipeline, investors have a chance to participate in this potential growth with its Opportunity Zone funds.

“It is our belief that Virtua Partners is strategically positioned to grow with the socially conscious investor. 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,” said Co-Founder and Chief Executive Officer Quinn Palomino. “Our projects seek to build developments that bring jobs and economic activity to struggling communities.”

About Virtua Partners

Virtua Partners is a global private-equity firm specializing in commercial real estate. The firm 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. Virtua Partners’ goal is to provide superior risk-adjusted returns for high-net-worth individuals and family offices through comprehensive strategies, rigorous underwriting, and careful execution.

 

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