Virtú Investments Acquires Elevate Apartments in Bellingham, Washington
Virtú Investments has closed on its acquisition of Elevate, a 133-unit, student housing property located in Bellingham, Washington.
Labeled a 92/100 “Walker’s Paradise” for residents, the property is located at the connection of the historic Sehome neighborhood and downtown Bellingham. Western Washington University (WWU) is a short walk from the property, as is an array of shops, dining, and parks.
The property offers studios, two-bedroom, three-bedroom, and four-bedroom units, all of which are leased individually by the bed. Community amenities are meant to enhance the student living experience, including a rooftop terrace with panoramic views of the city, forested hills, and Bellingham Bay. Residents also have access to a state-of-the-art fitness center, entertainment lounge, study areas, package lockers and a bicycle room.
In-unit finishes within the apartment homes include stainless steel appliances, in-unit washer and dryer, and fully furnished interiors.
Elevate is well positioned to capitalize on the growing demand for high-quality housing driven by the increasing population of the Pacific Northwest. Virtú believes Bellingham, which is faced with both a limited housing supply and constrained development pipeline, is primed for further rental growth and demand as enrollment at WWU increases and non-student residents continue to relocate from higher cost of living cities in the region such as Seattle and Vancouver.
About Virtú Investments
Virtú Investments, headquartered in Larkspur, CA, is a multifamily real estate investment firm primarily engaged in the acquisition and management of apartment properties in the western United States. Since its founding in 1997, Virtú has acquired and operated 130+ properties, totaling more than 24,000 units and over $3.7BN in real estate. With more than two decades of focused multifamily investing, Virtú maintains a highly selective acquisitions practice and a fully integrated, in-house property management firm.
