TORONTO, Jan. 26, 2026 (GLOBE NEWSWIRE) — Virtus Capital Corporation, the asset manager for Virtus Diversified REIT (VREIT), is pleased to announce the strategic acquisition of a multi-family residential property located at 38-52 Pearl Street in Sudbury, Ontario. Purchased for $3.3 million, the acquisition strengthens the REIT’s presence in the Sudbury market and aligns with its objective of securing income-producing assets in established urban centers.
The Pearl Street property is a three-story, low-rise apartment building, offering a total of 23 residential units. The building features a versatile unit mix consisting of 3 bachelor suites, 13 one-bedroom apartments, and 7 two-bedroom units. Strategically located near the intersection of Elm Street and Notre Dame Avenue, the property is situated in a high-demand area.
“We are very pleased to add this asset to our residential portfolio,” said Aurelio Baglione, CEO of Virtus. “The Pearl Street acquisition represents a disciplined investment in a market we know well. Furthermore, with many rents sitting at nearly half the market price, there is a strong opportunity for value creation over time. The formula remains the same, buy a solid asset with good existing cashflow, let time do the rest.”
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, as well as a portfolio of multi-unit residential buildings and senior homes.
Contact Information
Josh Will
[email protected]
www.vreit.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/91a03a3f-d8b1-4766-a474-713fdc380e07
