FOR IMMEDIATE RELEASE – October 7, 2013
Vestis Group Brokers 50 Single Family Home Portfolio Sale For $4.4M
(Phoenix – October 7, 2013) – Vestis Group is pleased to announce that brokers Victoria Miachika, Natan Jacobs and Les Litwin have completed the sale of fifty single family homes (50 Single Family Home Portfolio) in Phoenix for $4,400,000 / $88,000 per unit.
The buyer, AHF American Homes Fund (USA), LP, an Arizona limited partnership, purchased the Phoenix Single Family Rental Portfolio. The seller was MGF Funding, Inc. of Mesa, Arizona. Victoria Miachika, Natan Jacobs and Les Litwin with Vestis Group in Phoenix represented the buyer in the sale.
The 50 Single Family Home Portfolio is comprised of fifty existing single-family detached homes located throughout metropolitan Phoenix, Arizona. The rental portfolio consists of three, four and five bedroom homes, all had been recently updated and well maintained. 48 of the homes were rented at the time of sale.
The Phoenix investment is the buyer’s third bulk single-family home purchase in the last 11 months. Miachika says the buyer is well capitalized and interested in additional bulk single-family home investment opportunities in the Metropolitan Phoenix area.
About Vestis Group:
Vestis Group is a leading Multi Family 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.