May 12, 2005

Virtú Investments Acquires The Mansions at Ridgeview Country Club and The Mansions at Coyote Ridge

San Francisco, CA — Virtú Investments, LLC, a San Francisco based real estate investment management firm, acquired The Mansions at Ridgeview Country Club, a 548 unit apartment community located in Plano, TX, and The Mansions at Coyote Ridge, a 528 unit property located in Carrolton, TX.

"The two properties are among the finest residential communities in Texas, and we like the opportunity to buy A+ properties at a discount to replacement cost in a firming Dallas market", said Scott McWhorter, principal, Virtu Investments. Virtu Investments will target additional Class A and B product, in recovering markets this year.

Both properties are luxury garden style apartments, constructed in 1999 and consist of 1,2,3 and 4 bedroom condo style apartments. Average unit size is 1,233 square feet and the properties currently have a 93% occupancy rate.

Acquisition financing was coordinated through Steelhead Capital and Holliday Fenoglio Fowler, and provided by Column Financial and LEM Mezzanine. The seller was Western Rim Investors.

Michael Green and Scott McWhorter founded Virtu Investments in 1997. Virtu's current portfolio consists of 27 properties in various markets, and is valued at over $400 million. Virtu has primary offices in San Francisco and Carlsbad, CA and satellite offices in Tacoma, WA and Scottsdale, AZ. For more information concerning this transaction or other acquisitions in the South & Midwest contact Marc Olivieri, 480-425-2471, for information concerning residential acquisitions on the West Coast contact Wilson Ling, 415-398-2086, and for information concerning Commercial acquisitions on the West Coast contact Will Fleming, 415-398-4202.

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