Austin-based PE firm Virtus Real Estate Capital is JV’ing with a local partner and property management company to acquire two Class-B Dallas complexes, Bayou Bend and Pecan Square (748 units). Virtus will spend $2.2M in upgrades to the properties (built in 1981 and 1982) immediately. Kevin tells us Virtus has historically developed its investment strategy with a focus on a specific demographic trend. For this partnership, it’s targeting the Hispanic population, which has grown in Dallas by 74% between 2000 to 2013.
Sign up for more articles like this
Subscribe to Bisnow's Dallas-Fort Worth Newsletters
Related Stories
