(Disclosure: Rose Law Group represents Virtua Partners.)
By InBusiness
Virtua Partners, the Scottsdale-based private-equity firm specializing in real estate investment, has broken ground on a new Opportunity Zone development, in Glendale, Arizona. The property, named “V Townhomes at Manistee Ranch,” is a 5.78-acre infill lot situated at North 53rd Avenue within the Manistee Ranch Community. Virtua plans to transform the lot into 71 single-family residential rental units, offering entry-level housing options while aligning with Opportunity Zone regulations. Trez Capital’s Dallas office is providing construction financing for the project. This is the fourth transaction Trez Capital has financed for Virtua Partners.
Over the next 18 months, this property in the Manistee Ranch community will be improved with several clusters of contemporary-style townhomes, providing not only an enhancement to the community, but also necessary housing for the growing workforce in the Phoenix metropolitan area. Residents will benefit from close proximity to parks, shopping centers, restaurants and highways.
