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Off-market multifamily sells for $180,000 per unit

Posted by   /  July 13, 2017  /  1 Comment

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Real Estate News Daily

Phoenix, Arizona – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of MODE @ 22nd Street Apartments, an 11-unit apartment community located at 4120 North 22nd Street, in the Biltmore-area of East Phoenix for $1.98 million or $180,000 per unit.

“The Buyer contacted us initially looking for help acquiring value-add multifamily investment opportunities in the Phoenix market,” says Matt Morrell, Investment Advisor at Vestis Group and the lead broker for this transaction, “Eventually, the buyer asked if we would consider selling any of our MODE properties ‘off-market’ and a deal was struck on 22nd Street. MODE Apartment Living will continue to manage the Biltmore-area apartment community for the new ownership moving forward.”

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  1. […] “The Buyer contacted us initially looking for help acquiring value-add multifamily investment opportunities in the Phoenix market,” says Matt Morrell, Investment Advisor at Vestis Group and the lead broker for this transaction, “Eventually, the buyer asked if we would consider selling any of our MODE properties ‘off-market’ and a deal was struck on 22nd Street. MODE Apartment Living will continue to manage the Biltmore-area apartment community for the new ownership moving forward.” – more at roselawgroupreporter.com […]

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