Virtua Partners has purchased a 6.2-acre parcel in the City of Scottsdalebordering the Troon North golf course. The residential site, located at E. Dynamite Blvd and N. 101st Way, was purchased for $1.23MM. The land will be developed as a high-end condominium community. Virtua Partners Affiliate, Quyp Development, will be overseeing the project.

“We’re excited about developing our first project in the city of Scottsdale,” said Quyp Development President, Nick Montague. “The property is ideally located between a retail center and one of Scottsdale’s landmark golf courses.”

“Economic growth is strong across the Phoenix MSA,” said Quinn Palomino, Principal at Virtua Partners. “This growth cycle appears to be sustainable and we are bullish about future prospects. The Troon North acquisition marks our 28th project in the Valley.”

Virtua Partners is a private equity firm specializing in commercial real estate. Virtua designs and executes investment opportunities across the country. Investment products include fixed income, growth to income, growth, and aggressive growth. Through its affiliates, Virtua provides debt and equity origination, asset and property management, workout consulting, development, and fund management.