December 14, 2005

Virtú Investments Purchases The Ashby Apartments

Los Angeles, CA - Virtú Investments, LLC, a San Francisco based real estate investment management firm, purchased The Ashby Apartments in Los Angeles, CA in November of 2005. The 49 unit, art deco themed apartment building is located in a dynamic and re-gentrifying Korea town neighborhood. The Ashby was an attractive acquisition candidate for Virtú due to the value-add nature of the investment opportunity. Virtú was able to purchase the property and adjacent parking lot at a discount to replacement cost and will perform a substantial renovation to the interior of the building. This asset is located in an extremely tight and progressive Korea town rental market that is trending up and undergoing heavy revitalization efforts.

Virtú's non-recourse, fixed rate, CMBS loan was procured by Peter Slaugh at Steelhead Capital.

The Ashby Apartments acquisition was sourced by San Francisco based Regional Acquisitions Manager Stuart Bone. For more information concerning The Ashby Apartments and other acquisition possibilities in the Western States, contact Stuart Bone (415-595-7467). For information concerning multi-family acquisitions in the Midwest contact Marc Olivieri (480-425-2471). Contact Will Fleming (415-398-4202) at Virtu Commercial for information concerning Commercial acquisitions on the West Coast.

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.

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