Virtua Partners has acquired a 22-acre parcel in the Phoenix area. The price of the acquisition was $3.11 million. Quyp Development will rezone the land for residential and commercial uses.
PHOENIX, March 28, 2018 /PRNewswire/ — Virtua Partners has purchased a 22 acre parcel in the City of Avondale in the West Valley of Phoenix. The parcel, located at W. Indian School Road and N. El Mirage Road, was purchased for $3.11MM. Virtua Partners Affiliate, Quyp Development, will be rezoning the land for residential and commercial uses.
“We’re excited about developing another project in Avondale,” stated Quyp Development President, Nick Montague. “This is our sixth development project in Avondale and we are happy to be a part of this growing community.”
Montague went on to add that the location is ideal for both residential and commercial uses in the growing Phoenix economy. “There are a number of job drivers and local attractions that make this a strong site. These include Luke Airforce base, MLB Spring Training facilities, the Banner Estrella Medical Center, and the NFL Cardinals University of Phoenix Stadium.”
About Virtua Partners:
Virtua Partners is a private equity firm specializing in commercial real estate. Virtua designs and executes investment opportunities 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.