TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Virtus Real Estate Investment Trust (VREIT) is pleased to announce the acquisition of 179 3rd Avenue, Timmins, ON. Final closing of the Property occurred on September 27, 2021.
The Property is comprised of 34,767 gross leasable square feet and is fully leased by the federal government through January 2025, with an additional five year option to extend the lease.
The Property is conveniently located at the corner of 3rd Avenue and Cedar St, one block south of Hwy 101 in downtown Timmins.
Virtus Financial Group of Companies President and CEO Aurelio Baglione commented, “This new property is in a great location within one of our target cities. The central location provides easy access to public transit. We are also pleased to have a federal government office as our sole tenant. They are a long term tenant with an obvious track record of consistent and secure lease payments.”
About Virtus REIT
Virtus REIT is a privately-owned and managed portfolio of properties, focused on acquiring properties in strong secondary and tertiary communities across Canada and the United States. Virtus REIT is offered as an alternative investment product through Virtus Capital Management Inc., a Exempt Market Dealer (EMD). Virtus REIT is committed to providing investors with stable cash distributions with the opportunity for long-term growth.
About Virtus Capital Management Inc.
Founded in 2014, Virtus Capital Management Inc. (VCMI) is a registered Exempt Market Dealer (EMD). VCMI provides investors access to private capital market investments. As an Exempt Market Dealer, VCMI’s goal is to educate investors on investment opportunities typically unknown to the consumer market. VCMI focuses on alternative investment opportunities, which are suitable for qualified investors. For more information, please visit www.virtuscapitalmgmt.com or e-mail contact@virtuscapitalmgmt.com.
For media inquiries, please contact contact@virtuscapitalmanagement.com.
