FOR IMMEDIATE RELEASE – March 6, 2012
Vestis Group Completes 8-Unit Bulk-Condo Sale at Christown Villas in Phoenix, AZ
(Phoenix – March 6, 2012) – Vestis Group is pleased to announce that Principals Natan Jacobs and Les Litwin have completed the sale of 8-units (bulk condos) of Christown Villas Condominium, located at 2150 W. Missouri Avenue in Phoenix, Arizona, for $108,500 / $13,563 per unit.
The buyer, E Investment Properties, Inc., purchased 8 of 28 units within the community. The seller consisted of 3 separate REO lender-owners who had previously taken title through foreclosure. Natan Jacobs and Les Litwin with Vestis Group represented the seller in the sale.
Christown Villas houses 28 units on approximately 2.1 acres. It is comprised of 5 one bedroom / one bath; 20 two bedroom / two bath; and 3 three bedroom / two bath units. The average unit size is 1,177 sq. ft. The buildings are constructed of block, with built-up roofs were new in 2011. Built in 1960, the property was renovated in 2001.
Christown Villas is located in a great neighborhood surrounded by single-family homes, just west of 19th Avenue, near Spectrum Mall (aka Christown Mall) and all of its shopping and entertainment centers. This property is just minutes from downtown, and close to employment centers. In addition, there are many schools and colleges within five miles from the complex, including Phoenix College and the Burton Barr Central Library. Christown Villas is in close proximity to a variety of fine restaurants, supermarkets, and retail stores.
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.