Vestis Group Completes 11-Unit Bulk Condo Sale of El Cortez Condos

FOR IMMEDIATE RELEASE – March 16, 2012

Vestis Group Completes 11-Unit Bulk Condo Sale of El Cortez Condos in Phoenix, AZ

Vestis Group is pleased to announce that Principals Natan Jacobs and Les Litwin have completed the sale of 11-units (bulk condos) of El Cortez Condos for $110,000 / $10,000 per unit.

(Phoenix – March 16, 2012) – Vestis Group is pleased to announce that Principals Natan Jacobs and Les Litwin have completed the sale of 11-units (bulk condos) of El Cortez Condos for $110,000 / $10,000 per unit.

The buyer, Oceanside Funding LLC, a Nevada-based investor, purchased 11 of 300 units within the community. The seller was The Halstead Partnership, a California partnership. Natan Jacobs and Les Litwin with Vestis Group in Phoenix represented the seller in the sale.

El Cortez, a 300-unit garden-style condominium community, located at 3130 N 7^th Avenue in Phoenix, AZ, was built in 1964.  El Cortez offers spacious studio condos in the center of urban living. Amenities include: Private Electronic Access, Gated Community Pool, Full Kitchens, Dramatic City Views (some units), Large Closets/Storage, Private Balconies/Patios and Laundry Care Center.

El Cortez, located in the Uptown area of Central Phoenix, offers convenient access to St. Joseph’s Hospital, Barrow Neurological Institute, Phoenix Children’s Hospital, US Airways Center (NBA Phoenix Suns, WNBA Phoenix Mercury), Phoenix Civic Plaza, Symphony Hall, Herberger Theater, Phoenix College and
Chase Field (MLB Arizona Diamondbacks).

About Vestis Group:
Vestis Group is a leading multifamily investment sales and advisory services firm with a proven track-record of providing value added brokerage services coupled with innovative and ongoing real estate investment strategies. Our mission is to ensure that owners and investors receive the most efficient research, marketing, real estate consultation and transaction services available. We pride ourselves on our ability to deliver added value to our clients by building uncompromising and long-lasting relationships with our partners.

Vestis Group serves multi-family owners and investors with a full suite of commercial real estate services, including Buyer Representation, Project Marketing & Sales, Asset Management, Condominium Association Management, Project & Development Services, Research and Consulting.

For more information, please visit: www.Vestis-Group.com.