WOODBRIDGE, Ontario, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Virtus Real Estate Investment Trust is pleased to announce the acquisition of its first U.S. based holding.
Virtus Real Estate Investment Trust (VREIT) has acquired a 71,760 square foot, free standing commercial building located at 1899 Cinema Drive, Olean, NY for $7,450,000 USD. The building is currently occupied by a single tenant, BJ’s Wholesale Club. BJ’s Wholesale Club recently exercised a 7 year lease extension beginning December 2019 through January 2027.
“We’re thrilled to expand Virtus REIT’s footprint with our first U.S. acquisition,” comments Virtus President Aurelio Baglione. “We are excited to add this new commercial property to our portfolio given the strong demographic profile within the area.”
About Virtus Real Estate Investment Trust
Founded in 2019, Virtus REIT offers investors the opportunity to invest in a diversified portfolio of income producing commercial, industrial, retail and multi-unit residential properties in both Canada and the United States. Virtus REIT is distributed as an alternative investment product through Virtus Capital Management Inc. To learn more about Virtus REIT and other alternative investment product offerings through Virtus Capital Management Inc., please visit virtuscapitalmgmt.com or contact contact@virtuscapitalmgmt.com.
Media Contact:
Scott Roberts
Phone Number: +1 416-930-8407
Email: sroberts@virtuscapitalmgmt.com