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10/15/18
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October 15, 2018 - Virtu Investments Buys 168-Unit Property in San Marcos
Acquisition is of Barham Villas
Virtu Investments LLC purchased Barham Villas, a 168-unit complex in San Marcos. The property, situated on 9.88 acres at 570 Barham Dr, was sold by an affiliate of MG Properties Group.
Barham Villas was built in 1988. The two-story, low density garden-style community features Mediterranean architecture with pitched-tile roofs and garages. Ninety percent of the property consists of two and three-bedroom floor plans. Resident amenities at the property include a tennis court, half basketball court, heated pool/spa, fitness center, clubhouse, playground, pet friendly open space and two laundry facilities.
Barham Villas is located in San Marcos, directly south of Hwy 78 at the Barham Dr exit. San Marcos is home to several colleges, expanding employment centers and high-end shopping and dining. The property is two and a half miles from Interstate 15 and walking distance from California State University, San Marcos and the Sprinter transit stop.
Kevin Mulhern and Rachel Parsons of CBRE represented the seller in the deal. The buyer repped themselves. MG Properties Group is a San Diego-based owner and operator of apartment properties with a portfolio of over 60 properties throughout the western U.S.
“Barham Villas is an excellent fit for the Virtú Evergreen Fund, our open-ended multifamily fund. The acquisition provides allocation in a dynamic San Marcos location within San Diego in a property that will benefit from community improvements” said Evan Faulkner, Virtú ’s head of acquisitions.
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