Latest news with #VirtusDiversifiedREIT
Hamilton Spectator
31-07-2025
- Business
- Hamilton Spectator
Virtus Announces Appointment of Alexander Steele
TORONTO, July 31, 2025 (GLOBE NEWSWIRE) — Virtus Capital Corporation, the asset manager of Virtus Diversified REIT (VREIT), is proud to announce the addition of Alexander Steele to the executive team, effective July 1, 2025. As the Head of National Sales, Mr. Steele will be responsible for driving the growth of Virtus Diversified REIT. He leads distribution through the national network of CIRO-regulated investment dealers, further strengthening the REIT's commitment to expanding its investor base and enhancing its market presence. 'Bringing Alex Steele on board is a big win for Virtus,' said Josh Will, President of Virtus. 'He has a proven track record of building relationships and with over 20 years in the industry, he has created a personal brand of trust amongst financial professionals. I've known Alex for a few years and have always admired his work ethic and commitment to advisors. I am honored to add him to our Executive Team.' Mr. Steele joins Virtus with a distinguished background in real estate investment and capital raising. Most recently, he served as Senior Managing Director of Canadian Wholesale at Dalfen Industrial, where he played a key role in designing and managing the Dalfen Industrial Real Estate Income Fund. Prior to Dalfen Industrial, Alex was Head of Sales at Avenue Living Asset Management. Alex holds an Executive Masters in Financial Services from the Luxembourg School of Business, where he graduated at the top of his class and was awarded the school's first Fellowship. 'I am excited to join Virtus at such a pivotal time in Virtus Diversified REIT's growth,' said Alex. 'I look forward to working with the talented team at Virtus and leveraging my vast national network of CIRO-regulated investment dealers to broaden our reach and deliver compelling investment opportunities to our partners and investors.' Virtus Diversified REIT remains committed to building a resilient and diversified portfolio of quality real estate assets across Canada and the United States. The addition of Mr. Steele to the Virtus leadership team underscores the REIT's focus on strategic growth, investor engagement, and operational excellence. For more information about Virtus Diversified REIT and its investment opportunities, please visit . About Virtus Diversified REIT Virtus Diversified REIT is focused on acquiring quality properties in strong secondary and tertiary markets across Canada and the United States. The company's goal is to build a strong and stable commercial, industrial, retail, and multi-unit residential portfolio, enhancing overall portfolio incomes by diversifying the tenant base and geographic diversity. The long-term goal is to maximize the unit value with ongoing management through future acquisitions, repositioning, and competitive financing. Some of Virtus Diversified REIT's anchor tenants include companies such as Crown Corporation, BJ's Wholesale Club, Canadian Tire, Shoppers Drug Mart, No Frills, Walmart, and Dollarama. Contact Information Josh Will info@ A photo accompanying this announcement is available at
Toronto Star
31-07-2025
- Business
- Toronto Star
Virtus Announces Appointment of Alexander Steele
TORONTO, July 31, 2025 (GLOBE NEWSWIRE) — Virtus Capital Corporation, the asset manager of Virtus Diversified REIT (VREIT), is proud to announce the addition of Alexander Steele to the executive team, effective July 1, 2025. As the Head of National Sales, Mr. Steele will be responsible for driving the growth of Virtus Diversified REIT. He leads distribution through the national network of CIRO-regulated investment dealers, further strengthening the REIT's commitment to expanding its investor base and enhancing its market presence. 'Bringing Alex Steele on board is a big win for Virtus,' said Josh Will, President of Virtus. 'He has a proven track record of building relationships and with over 20 years in the industry, he has created a personal brand of trust amongst financial professionals. I've known Alex for a few years and have always admired his work ethic and commitment to advisors. I am honored to add him to our Executive Team.'
Yahoo
04-06-2025
- Business
- Yahoo
Virtus Diversified REIT Announces Acquisition in Sudbury
TORONTO, June 04, 2025 (GLOBE NEWSWIRE) -- Virtus Capital Corporation, the asset manager of Virtus Diversified REIT (VREIT) is pleased to announce the acquisition of Nickel District Apartments, a 114-unit apartment building located in Sudbury, Ontario. This strategic move significantly enhances the multi-family residential segment of the REIT's portfolio and reinforces its commitment to quality diversified real estate investments. Nickel District Apartments, at 323 Second Avenue, is a wide walk-up style building offering a diverse mix of units to cater to various tenant needs. The property features 1 bachelor unit, 22 one-bedroom apartments, 87 two-bedroom units, and 4 three-bedroom suites. "We are thrilled to add Nickel District Apartments to our growing portfolio," said Aurelio Baglione, CEO of Virtus. "This acquisition aligns perfectly with our strategy of identifying properties with strong fundamentals and potential for value appreciation. The current Net Operating Income aligns with our target yield for investors, while the 21% gap-to-rent presents an excellent opportunity for revenue upside, which we aim to capitalize on responsibly." The property boasts several attractive features such as varied suite styles, including townhouse-style units with separate entrances, terraces, balconies, high ceilings, and some units with two bathrooms. It also features a prime location near major national retailers such as Best Buy, Costco, and Home Depot, enhancing its appeal to tenants. According to as of April 2025, the median rent for all bedroom counts and property types in Greater Sudbury is $1,899, reflecting a significant increase of 19% over the previous year. This upward trend in rental prices underscores the strong demand for quality housing in the area. Virtus Diversified REIT acquired Nickel District Apartments for $24.35 million. Additionally, the financing for this acquisition will be secured through CMHC-insured mortgages, allowing for favorable mortgage rates that enhance cash flow and overall returns. "Nickel District Apartments is an excellent addition to our multi-family portfolio," commented Josh Will, President of Virtus. "Its strategic location in Sudbury, combined with the potential for increased occupancy, makes it an attractive long-term investment for our unitholders. Our path to growth is not finished yet. We have made it our goal to acquire strong properties from weak hands, and we expect to make some more exciting announcements in the coming months." Virtus Diversified REIT remains committed to building a resilient and diversified portfolio of quality real estate assets across Canada. This acquisition reinforces the REIT's position as a reliable asset manager in the multi-family residential sector and highlights its focus on properties with sound fundamentals and growth potential. For more information about Virtus Diversified REIT and its investment opportunities, please visit About Virtus Diversified REIT Virtus Diversified REIT is focused on acquiring quality properties in strong secondary and tertiary markets across Canada and the United States. The company's goal is to build a strong and stable commercial, industrial, retail, and multi-unit residential portfolio, enhancing overall portfolio incomes by diversifying the tenant base and geographic diversity. The long-term goal is to maximize the unit value with ongoing management through future acquisitions, repositioning, and competitive financing. Some of Virtus Diversified REIT's anchor tenants include companies such as Crown Corporation, BJ's Wholesale Club, The Brick, No Frills, Walmart and Dollarama. Contact Information Josh Willinfo@ A photo accompanying this announcement is available at while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
