Virtua Partners Completes Acquisition of Two Phoenix Area Development Sites

Virtua Partners Completes Acquisition of Two Phoenix Area Development Sites

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Virtua Partners announced today that it has acquired two properties with 28 acres of undeveloped land in the Phoenix MSA of Arizona.  The projects include a 13-acre site at 14th Street and Union Hills in Phoenix and a 15-acre assemblage in Avondale at Thomas and 119th Avenue.  Current plans call for the development of the sites as single family residential housing. The combined purchase price was $2.8MM. "The Phoenix Metro economy continues to perform strongly, and we are excited to add two strong development projects to our pipeline," said Quinn Palomino, Principal of Virtua Partners. "Demand for infill housing remains robust with no slowdown in sight." The properties will be developed by Virtua's Phoenix based affiliate, Quyp Development. "Quyp Development is excited to work with both cities to obtain the…
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