Vestis Group Brokers 50 Single Family Home Portfolio Sale For $4.4M
By Natan Jacobs | Vestis Group
(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 the broker of choice for individuals and institutions investing in multifamily residential and commercial real estate throughout Metropolitan Phoenix. Our advisors assist clients in the acquisition and disposition of multifamily investment and retail investment assets, including, apartments, bulk condo packages, duplex/triplex/fourplex properties, single-family rental portfolios (SFR Portfolios), income producing single-family investment properties, neighborhood strip centers, retail power centers, retail strip centers, neighborhood grocery, retail PAD and retail shopping centers. In the field of housing, Vestis Group’s principals have developed, built, rehabilitated, constructed, improved, managed, and sold thousands of apartments units, condos, single-family homes and home sites.