Vestis Group Negotiates Sale Of Metro 12 Lofts In Downtown Phoenix
By Natan Jacobs | Vestis Group
(Phoenix – July 9, 2013) – Vestis Group is pleased to announce the completed sale of Metro 12 Lofts, a 12-unit townhome/loft style multifamily community, located at 620 North 4th Avenue in Phoenix, Arizona, for $2,325,000 / $193,750 per unit.
Triton Properties sold the Metro 12 Lofts Apartments in Downtown Phoenix to a private investment group from Phoenix for $2,325,000. Natan Jacobs and Les Litwin of Vestis Group represented the Buyer in the sale of this Phoenix apartment complex. Brian Tranetzski of Marcus & Millichap represented the Seller. The new owner plans to sell the individual condominium units to owner-occupants.
Metro 12 Lofts is a boutique class ‘A’ 12-unit townhome/loft style community located in the Roosevelt Historic District in Downtown Phoenix, Arizona. Built in 2008, Metro 12 is a rare one-of-a-kind offering of a Santa Barbara-style community located in the heart of Downtown Phoenix. Featuring 12 well-designed, urban style townhome/lofts boasting an average of 1,548 square feet of living space, and interior appointments such as stained concrete floors, hardwood floors, maple cabinets, stainless steel appliances, granite countertops, vaulted ceilings, loft style bedrooms, balconies and small patio-style yards, the community truly provides the luxury living its residents desire. Metro 12 is located within walking distance of the largest employment center and entertainment venues in Arizona, capturing the essence of downtown Phoenix living. Metro 12 contains an in place condo-map providing an investor a unique opportunity to acquire a best in class asset with tremendous upside potential through individual unit sales.
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.