SAN DIEGO, CA – Virtú Investments, a multifamily real estate investment firm primarily engaged in the acquisition and management of apartment properties in the western United States, announced it has bought ALX, a 313-unit multifamily property in San Diego, CA.
Virtú sees San Diego as an ideal location for investment based on the city s limited housing supply and current property valuations that have fallen to a low point from their 2021 peak. The acquisition of ALX further strengthens Virtú s position in Southern California. The San Diego market is expected to see strong rent growth over the next decade, driven by both growing demand and supply constraints, as rising construction costs greatly reduce the economic viability of new multifamily developments.
The San Diego market is a fantastic example of what we look for when considering new properties – a well loved city with low apartment supply, increasing renter demand, and valuations well below their peak, said Michael Green, CEO and Founding Partner of Virtú Investments. The acquisition of ALX perfectly aligns with this focus, and we look forward to building on this strategy through similar transactions in the near future.
Located in the heart of San Diego s Ballpark District neighborhood, ALX provides residents with simple, walkable access to the most vibrant areas of the city. The luxury highrise offers a range of amenities including a rooftop saltwater zero-edge pool and spa, a state-of-the-art fitness center, and game room.
Virtú bought ALX primarily through the Virtú Evergreen Fund, an open-end fund launched in 2015 for generational ownership, long-term compounding, extreme tax efficiency and flexible liquidity. The Fund, which recently announced its reopening to new commitments, is designed to take advantage of 1031 Exchanges within the Fund to perpetually defer taxes on gains and cashflow. The Evergreen Fund is a key strategy within the Virtú platform, which has owned and operated 23,000 apartments across 33 markets and realized a Net IRR of 19.4% over 26 years.

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LOS ANGELES, CA – Cityview, a premier multifamily investment management and development firm, and Wafra, a global alternative investment manager, have bought Silva, a newly constructed 221-unit, Class A multifamily community in the Silver Lake neighborhood of Northeast Los Angeles. Situated on a hilltop that provides 360-degree views of the city, Silva is the first institutional grade multifamily asset of its size delivered in the Silver Lake/Echo Park neighborhoods.
Silva is currently unleased and recently achieved Temporary Certificate of Occupancy. Cityview and Wafra will lease up the community as construction is finalized and Certificate of Occupancy is obtained.
Silva is a rare opportunity to buy a newly constructed Class A property in one of Los Angeles most desired and centrally located submarkets, said Sean Burton, CEO of Cityview. Cityview has delivered and leased up three other development projects near the area over the past year, giving us deep market knowledge and experienced onsite teams that ideally position us to lease up and manage the community alongside Wafra, a trusted partner of Cityview.
Silva represents a unique opportunity to buy a high-quality asset at a material discount to replacement cost in a market that has some of the nation s highest barriers to home ownership and is chronically underserved by rental apartments, said David Hamm, Head of Real Estate at Wafra. We are excited to partner on this transaction with the highly talented and respected team at Cityview.
Silva features top-of-the-line amenities including a spacious sky lounge that offers coworking space and a large deck with panoramic views, a resort-style pool and spa overlooking the Hollywood sign, a club room with arcade games and a private screening room, and programmatic outdoor space. A double-height fitness center features state-of-the-art equipment and storefront glass on two sides, while outdoor dining areas with firepits and BBQs are scattered throughout the property. Additional amenities include a dog run and green space, secure storage areas and EV charging stations.
The community offers expansive studio, one-, two-, and three-bedroom floor plans with elevated interior finishes including nine-foot ceilings and floor-to-ceiling windows that highlight views of Downtown Los Angeles, Griffith Park Observatory, the Hollywood Sign and the Santa Monica Mountains. The project s designer kitchens feature quartz countertops, high-end fixtures and appliances and full-height tile backsplashes. All floorplans include full-size, front-loading washer and dryers and smart thermostats, and most units offer large walk-in closets and private oversized balconies or patios. The units average 1,000 square feet, providing ample space for residents to work from home or entertain.
Silva is one of the few 200+ unit multifamily communities ever to deliver in this pocket of the city, making it an incredibly unique investment opportunity hard to replicate due to the area s high barriers to entry and lack of developable land, added Burton.
Located at 235 N Hoover Street, Silva is situated less than a mile from the 101 Freeway and the Vermont/Beverly Metro station, providing simple access to the nearby employment hubs of Downtown Los Angeles, Hollywood, Century City and Santa Monica as well as the Tri-Cities area of Burbank, Glendale and Pasadena. The community is ideally located at the center of some of Los Angeles most dynamic neighborhoods, including Silver Lake, Historic Filipinotown, Echo Park, East Hollywood and Koreatown.
Chris Tresp and Derrek Ostrzyzek at CBRE brokered the transaction. Westhome, an affiliate of Cityview, will serve as the property manager.

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DALLAS, TX – S2 Capital, a national, vertically integrated multifamily investment manager, announced the acquisition of The Place at Saddle Creek, a 238 unit, two tale, multifamily property located in Carrollton, Texas, a prominent Dallas suburb. Terms of the transaction were not told.
“The Place at Saddle Creek is an appealing acquisition for S2, as the property has not experienced a full renovation in over a decade, during which the Dallas-Fort Worth area experienced a significant surge in rent and population growth,” said Ryan Everett, Vice President of Acquisitions at S2. “Our ability to assume the existing fixed rate Freddie Mac loan at a low leverage point, ensures immediate cash flow at the property level. We’re excited to be implementing an extensive renovation plot with value-add updates to the property to improve the overall experience for residents, and provide immediate rental upside.”
Located at 3420 Country Square Dr in Carrollton, residents are adjacent to many lifestyle attractions found in the Village on the Parkway, Addison Circle and Downtown Carrollton, all hubs for shopping and dining, as well as many residential neighborhoods and upscale homes, and an array of brilliant public schools. The Place at Saddle Creek is also near a variety of public parks, nature areas and the well loved Lewisville Lake, a destination for boating, fishing and outdoor recreation. Beyond the City of Carrollton, residents are connected to the greater Dallas-Fort Worth area through major transportation systems including the Dallas North Tollway and I-635.
Within the property, residents delight in two private community pools, outdoor grilling stations, a renovated fitness center, tennis and pickleball courts, a business center, dog park and Amazon lockers. The majority of The Place at Saddle Creek’s individual apartment units are in classic condition from the property’s initial construction, while select units feature modern finishes, with quartz countertops, stainless steel appliances, balconies, fireplaces and upgraded flooring.
S2 plans to rebrand the property as ‘Brookbend,’ and the comprehensive renovation plot includes enhancing unit interiors with new granite countertops, upgraded kitchen hardware and bathroom fixtures. Additionally, S2 plans to renovate the building’s exterior and improve the leasing office, gym and pool areas.

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