TORONTO, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Virtus Capital Corporation, the asset manager of Virtus Diversified REIT (VREIT), is pleased to announce the strategic acquisition of a multi-unit residential property located at 7 Point Park Drive in Riverview, New Brunswick. The purchase was finalized for a price of $10,150,000.
The 1.7-acre property is located close to Moncton, and features a three-storey walk-up fifty-unit apartment building. The building was acquired below its valuation, having been recently appraised at $10,375,000. Located in the highly desirable Point Park subdivision, the asset is situated in a stable, family-oriented community that is part of the robust Greater Moncton Census Metropolitan Area (CMA), one of Atlantic Canada’s fastest-growing regions. The Riverview community itself has demonstrated strong population growth of 4.7% (2016-2021), supporting consistent demand for quality residential offerings. This transaction aligns perfectly with VREIT’s objective to acquire quality assets in strong secondary markets that offer predictable, long-term capital appreciation.
“Our investment decisions are consistently validated by the market,” said Aurelio Baglione, CEO of Virtus. “Acquiring this high-quality asset below its appraised value is a testament to our team's ability to identify and acquire off-market assets and secure immediate equity. This transaction reinforces VREIT’s strategic focus on secondary and tertiary markets, proving our commitment to capturing exceptional value for our unitholders.”
“This acquisition directly aligns with VREIT’s strategy of targeting stable, supply-constrained markets that offer predictable cash flow and long-term capital appreciation,” commented Josh Will, President of Virtus. “Riverview’s robust economic profile and strong community fundamentals make this a powerful addition, immediately increasing our portfolio's intrinsic value and geographic diversification for our unitholders.”
VREIT is dedicated to generating long-term unitholder value and is committed to actively managing its portfolio, which includes both the acquisition and management of quality assets, and the strategic disposition of properties to secure profits.
For more information about Virtus Diversified REIT and its investment opportunities, please visit www.vreit.ca.
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@vreit.ca
www.vreit.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5cc3bfc3-7a0a-4b1d-a517-9dac4847089f
