Virtus Real Estate Capital
Private equityAustin
Investment thesis
Virtus invests exclusively in needs-based, demographic-driven real estate sectors—healthcare, education, storage and middle-income housing—that it considers cycle-resilient. Adopting a hands-on, data-driven and relative-value approach, the firm allocates across the risk spectrum from stabilized core and core-plus to value-add and opportunistic deals. It operates institutional diversified vehicles, separate accounts and open-end perpetual vehicles executing an Enhanced Core strategy, and has vertically integrated several value-creation functions including construction management and its Community First Development (C1) platform. Since 2003 Virtus has invested nearly $8 billion across 315+ commercial properties with 230+ realized investments, becoming a UN PRI signatory in 2023.
Source: firm website, verified Aug 6, 2026.
Fund performance · per public LP disclosures · 2
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Virtus Real Estate Capital III, LPLPs: Texas Municipal Retirement System | — | — | 9.1% | 1.33x | 0.24x |
| Virtus Real Estate Enhanced Core, LPLPs: Texas Municipal Retirement System | — | — | 7.2% | 1.29x | 0.17x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What sectors does Virtus Real Estate Capital focus on?
- Virtus Real Estate Capital focuses on PropTech.
- Where is Virtus Real Estate Capital located?
- Virtus Real Estate Capital is headquartered in Austin, US.
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