Vestis Group Completes 27-Unit Phoenix Multifamily Sale of Tahiti Palms Apartments

FOR IMMEDIATE RELEASE – December 27, 2012

Vestis Group Completes 27-Unit Phoenix Multifamily Sale of Tahiti Palms Apartments

(Phoenix – December 27, 2012) – Vestis Group is pleased to announce that Principals Natan Jacobs and Les Litwin have completed the sale of Tahiti Palms Apartments, a 27-unit multifamily property, located at 2940 N. 40^th Street in Phoenix, Arizona, for $1,365,000 / $50,556 per unit.

Six individual owners of condo conversion units sold the Tahiti Palms Apartments in Phoenix to Edward Hagey of San Diego, California for $1.365 million. Natan Jacobs and Les Litwin of Vestis Group represented the Sellers in negotiating the sale of this 27-unit multifamily property. The new owner will revert back to conventional apartments.

Tahiti Palms, a 27 unit, garden-style condominium community located in east central Phoenix.

Tahiti Palms, a 27 unit, garden-style condominium community located in east central Phoenix. Built in 1963, Tahiti Palms has a pitched, composition roof and concrete-block construction, single-level buildings. All the units have spacious kitchens and large closets. Common area amenities include a swimming pool, covered parking and laundry facilities.

Tahiti Palms enjoys a superior East Central Phoenix location referred to as the Arcadia area near numerous Valley hotspots, including: The Vig, La Grande Orange, Postino’ s Wine Bar, North Arcadia and Chelsea’ s Kitchen. The property is located in a quiet residential neighborhood one half mile south of the Indian School road along 40th Street allowing easy access to the Biltmore area, the Camelback Corridor, Downtown Phoenix, Sky Harbor International Airport, the valley freeway system and numerous employers.

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.