Vestis Group Completes Single Family Home Portfolio Sale in Phoenix

FOR IMMEDIATE RELEASE – December 27, 2012

Vestis Group Completes Single Family Home Portfolio Sale in Phoenix, Arizona

(Phoenix – December 27, 2012) – Vestis Group is pleased to announce that Principals Natan Jacobs and Les Litwin have completed the sale of 7 Single Family Homes (SFR Portfolio) for $475,000 / $67,857 per unit.

The buyer, AHF American Homes Fund (USA), LP, an Arizona limited partnership, purchased the SFR Portfolio. The seller was Landsmith of Phoenix, SF1, LLC, a Delaware limited liability company. Natan Jacobs and Les Litwin with Vestis Group in Phoenix represented the buyer in the sale.

Single Family Home Portfolio Sale in Phoenix

Single Family Rental Portfolio for sale in Phoenix Arizona. The SFR Portfolio is comprised of existing single-family detached, condominium and townhome/patio homes. The Properties are located in the cities of Glendale, Mesa and Phoenix, Arizona.

This exclusive offering provides investors a unique opportunity to purchase a portfolio that consists entirely of recently refurbished, tenant-occupied, single-family dwellings, below replacement cost, in one of the nation’ s top growth residential
markets in the country. All of the properties present an immediate opportunity for rental upside.

The SFR Portfolio of homes includes seven (7) 3 Bed / 2 Bath homes with an Average Size of 1,292 Square Feet, Year of Construction for each home ranges from 1984-1995, and 100% Rented.

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.

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