LARKSPUR, California, Oct. 1, 2024 (GLOBE NEWSWIRE) — Virtú Investments (“Virtú”), a multifamily real estate investment firm primarily engaged in the acquisition and management of apartment properties in the western United States, announced today that it has acquired Marlowe, a 176-unit multifamily property in Chicago, IL.
Marlowe is Virtú's first acquisition in Chicago and marks the company's expansion into key cities beyond its traditional focus on western U.S. markets. Virtú believes Chicago represents significant investment potential based on the short-term shortage of new apartment supply and continued tenant demand. The acquisition of Marlowe is part of Virtú's broader strategy to capitalize on attractive cyclical pricing in key submarkets with low or no supply in the near term.
“Marlowe aligns with our investment strategy of identifying institutional quality assets in locations with limited residential supply and high demand,” said Michael Green, CEO and founding partner of Virtú Investments. “This acquisition is the result of months of analysis of real estate trends and market dynamics, and our ability to select properties that take advantage of attractive prices and significant discounts on current replacement costs, as well as near-term shortages in regions key of the country”.
Marlowe is located in Chicago's premier River North neighborhood, giving residents easy access to world-class dining, retail and entertainment options, as well as major employers nearby. The luxury property offers extensive amenities including a rooftop lap pool, private garage with electric vehicle charging stations, a fitness center with yoga space, and a community room with game tables and bar.
Virtú acquired Marlowe through co-ownership of the Evergreen Fund, the firm's closely-held Opportunity Fund (JVOF), and a single-asset syndication. The Virtú Evergreen Fund is an open-end fund launched in 2015 for generational ownership, long-term compounding, extreme tax efficiency and flexible liquidity, and is designed to take advantage of 1031 exchanges within the Fund to perpetually defer income and cash flow taxes. box.
Green continued: “The Evergreen Fund provides Virtú the flexibility to enter and exit markets as cycles change, allowing us to acquire assets like Marlowe in Chicago and strengthen our ability to invest in new geographies that will ultimately Ultimately, they align with our long-term goals.” “We continually review existing and new-to-us regions that show strength in our key underwriting metrics, and the flexibility of the Evergreen Fund allows us to be agile and take advantage of opportunities nationwide across the multifamily space.”
For more information about Virtú Evergreen Fund, LP, click here.
About Inversiones Virtú
Virtú Investments is a multifamily real estate investment firm primarily engaged in the acquisition and management of apartment properties in the western United States. Since its founding in 1997, Virtú has acquired and operated more than 130 properties, totaling more than $3.7 billion in real estate. Virtú is focused on serving its investors with innovative and tax-efficient solutions within the multifamily investment space. Virtú maintains a highly selective acquisitions practice and a fully integrated in-house property management firm. For more information, visit
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