Virtua Partners Acquires Class-A, Multi-Tenant Office BuildingOctober 31, 2019 Press Releases
SCOTTSDALE, Ariz. (Oct. 31, 2019) — Virtua Partners, a global-private equity real-estate investment manager announced the successful acquisition of the multi-tenant building located at 4800 North Point Parkway in Alpharetta, Georgia – an affluent community in the Atlanta MSA. The property was acquired at a purchase price of $13,000,000.
The 75,305 square-foot property will be 100 percent occupied by four tenants, anchored by a large A+ credit tenant. In addition to the property itself, the submarket exhibits healthy fundamentals, experiencing immense population growth and a healthy office market. North Fulton County experienced a 14.1% increase in population from 2010 to 2018 according to the U.S. Bureau of Economic Analysis. High-end amenities, a low cost of living and an abundance of educated workers also support a strong outlook for this property.
“This property is located in a highly competitive market, our ability to execute this acquisition with such strong drivers highlights the value we strive to provide,” says Quinn Palomino, Chief Executive Officer of Virtua Partners “The location, the outlook for economic growth and the established tenants are all reasons why we are proud of this acquisition.”
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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