US real estate firm Virtú Investments has added the ALX multifamily property in San Diego, California to its portfolio.
Virtú has invested an unspecified amount to acquire the 313-unit luxury highrise asset in the Ballpark District neighbourhood, bolstering its Southern California presence.
The investment was made through the open-ended Virtú Evergreen Fund which was launched in 2015.
Michael Green, CEO and founding partner of Virtú Investments, said: “The San Diego market is a great example of what we look for when considering new properties – a popular city with low apartment supply, increasing renter demand, and valuations well below their peak.
“The acquisition of ALX perfectly aligns with this focus, and we look forward to building on this strategy through similar transactions in the near future.”
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