Vestis Group Sells Multifamily Portfolio In Central Phoenix | CEM
By Isabel Menzel | Commercial Executive Magazine
Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of Highland Apartments, a 6-unit multifamily rental property, located at 315 & 319 W Highland Ave, Phoenix, Arizona 85013 and Turney Apartments, an 8-unit multifamily rental property, located at 243 W Turney Ave, Phoenix, Arizona 85013, for $975,000 or $69,643 per unit.
“This is MODE Apartment + Homes’ 40th acquisition in the Phoenix market and their third purchase near Midtown Phoenix’s Melrose District,” says Chad Barber, Investment Advisor at Vestis Group and the lead broker for this transaction, “I’m excited that we were finally able acquire a Central Phoenix red brick charmer. Being within walking distance to Lux Coffee, the light rail and several other CenPho hotspots was the driving force for pursuing this multifamily portfolio.”
The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs, Chad Barber and Matt Morrell negotiated the transaction on behalf of the buyer, MODE Apartments + Homes of Phoenix in the sale. – more at cem-az.com