November 1, 2005

Virtu Investments Purchases Worthing Place Apartments

Kansas City, KS — Virtú Investments, LLC, a San Francisco based real estate investment management firm, purchased Worthing Place Apartments in Kansas City, KS in October of 2005. The 372 unit apartment complex represents an excellent opportunity for Virtu to purchase a significantly rehabilitated asset at nearly 50% of its replacement value. Furthermore with the property only 75% leased at the time of closing there is a substantial opportunity to increase occupancy in an improving sub-market.

Worthing Place is located in a strong in-fill location as evidenced by the $35 million renovation of Roeland Park Shopping Center located approximately one mile from the property. Although the market dynamics for Worthing Place’s submarket have improved substantially during the past 15 months the previous managers failed to capitalize on the upswing, many of Worthing Place’s competitors were 90 to 95% leased at the time of closing.

Michael Green and Scott McWhorter formed Virtu Investments in 1997. Since then, the company has acquired over forty properties throughout the country. The company's current portfolio is valued at approximately $400 million and Virtu has approximately $120 million of private equity under management.

For information concerning Worthing Place Apartments and additional acquisition opportunities in the Mid and South West contact Marc Olivieri (480-773-1619). Contact Stuart Bone (415-595-7467) for multi-family acquisition opportunities on the West Coast and Will Fleming (415-398-4202) for commercial acquisition opportunities on the West Coast.

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