Vestis Group Completes 9-Unit Bulk Condo Sale of Loma Bonita in Phoenix AZ

FOR IMMEDIATE RELEASE – June 15, 2012

Vestis Group Completes 9-Unit Bulk Condo Sale of Loma Bonita in Phoenix AZ

Vestis Group is pleased to announce that Principals Natan Jacobs and Les Litwin have completed the sale of 9-units (bulk condos) of Loma Bonita Condominium aka Mountain View Manor for $234,000 / $26,000 per unit.

(Phoenix – June 15, 2012) – Vestis Group is pleased to announce that Principals Natan Jacobs and Les Litwin have completed the sale of 9-units (bulk condos) of Loma Bonita Condominium aka Mountain View Manor for $234,000 / $26,000 per unit.

The buyer, Rescon Properties LLC, a local investor, purchased 9 of 92 units within the community. The seller was Charles Shafer II Investments LLC, of Colorado. Natan Jacobs and Les Litwin with Vestis Group in Phoenix represented the seller in the sale.

Loma Bonita, a 92-unit garden-style condominium community, located at 1301 East Mountain View Road in Phoenix, AZ, was built in 1984, and renovated for conversion in 2007.  Loma Bonita offers spacious two-bedroom / one-bath condos of approximately 800 square feet in North Central Phoenix. Amenities include: Stainless Steel Appliances, In-Suite Washer/Dryer, Updated Kitchens and Bathrooms, Gated Community Pool, Dramatic Mountain Views (some units), Large Closets/Storage, Private Balconies/Patios and Two Laundry Facilities.

With frontage on Mountain View Road, Loma Bonita is situated among a quiet residential neighborhood surrounded by single-family homes, nestled in the foothills of the majestic Phoenix Mountains, adjacent to prestigious Squaw Peak in North Central Phoenix. The Property enjoys easy access to the SR-51 Freeway, 7th Street, and Cave Creek Road, all major North/South thoroughfares.

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.