Boustead Securities Client Virtua Partners Completes Sale of Kentucky Apartment Interest
Fund level return equals 317% IRR
April 25, 2017 – Irvine, CA – Boustead Securities, LLC client Virtua Partners, through its High Growth Fund I (VHGF I) sold Patchen Oaks Apartments, a 192-unit apartment complex in Lexington, Kentucky. Boustead Securities is the exclusive financial advisor and managing broker dealer for Virtua Partners.
VHGF I bought a minority interest in the Patchen Oaks property in March 2016, based on an equity valuation of $1,066,428. The apartment project sold with net proceeds of $4,812,188, equaling a VHGF I Fund level return of 317% IRR, or approximately 4.5X multiple.
"This is a strong return for our investors, even after adjusting for risk," said Virtua principal, Quinn Palomino. "The Patchen Oaks investment is part of our high growth series of funds and syndications, which are designed to produce capital gains for our investors."
“The performance of VHGF I is a testament to Virtua Partners’ ability to identify unique opportunities to deliver above market returns. We are proud to represent the Virtua Partners high growth and income series of funds to the broker-dealer and investment communities,” said Keith Moore, CEO of Boustead Securities.
About Boustead Securities, LLC
Boustead Securities, LLC is an investment banking firm that advises clients on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions. Our core value proposition is our ability to create opportunity through innovative solutions and tenacious execution.
With experienced professionals in the United States and around the world, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services.
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Posted on Market Wired