Virtú Investments completed the acquisition of Elevate Apartments.

Virtú Investments, a multifamily real estate investment firm, completed the acquisition of Elevate Apartments, a 133-unit student apartment property. Financial terms were not disclosed. “The multifamily market is undergoing a significant shift as owners find themselves managing high levels of debt due to overpaying for properties at the height of the recent market cycle. Against this backdrop and as we had predicted, we are now seeing significant opportunities to acquire high-quality assets from forced sellers at favorable valuations, in regions with low to no near-term supply. By assuming Elevate’s below-market loan and coupled with its favorable capitalization rate, we anticipate the property will provide one of the highest cash flowing opportunities Virtú has seen over the past decade,” Michael Green, Virtú Investments CEO and Founding Partner.