6738 N 45th Ave, Glendale, AZ 85301 | $2,530,000.jpg

Vestis Group Completes $2.53M Sale of Norwood Village Apartments

FOR IMMEDIATE RELEASE – March 30, 2012

Vestis Group Completes $2.53M Sale of Norwood Village Apartments in Glendale, AZ

(Phoenix – March 30, 2012) – Vestis Group has completed the $2.53 million sale of Norwood Village Apartments, a 115-unit,garden-style apartment community, built in 1971, located at 6738 N. 45th Avenue in Glendale, Arizona.

The buyer, Gorman & Co., a national affordable housing developer, purchased the property in partnership with Catholic Charities, a non-profit organization. The seller was TriTex Real Estate Advisors II Inc., a company formed by TriMontReal Estate Advisors Inc., serving as trustee for Fannie Mae. The buyer wasrepresented by Natan Jacobs and Les Litwin of Vestis Group in Phoenix. The seller was represented by Mark Forrester, Ric Holway and Greg Thielen of Hendricks & Partners in Phoenix.

The buyer acquired the multi-family complex with a $1.8 million loan from the City of Glendale and the Neighborhood Stabilization Program (NSP), and a $1.32 million loan from RAZA Development Fund Inc. The project will be operated as affordable housing with strict provisions for the units to be leased to those with low incomes, as required by the NSP program. The venture intends to refurbish all of the units in the property. Plans include converting some of the two-bedroom apartments to three-bedroom units, which will reduce the size of the complex from 115 units to 95.

About Vestis Group

Vestis Group is a leading Multifamily 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.

We specialize in Phoenix Apartments For Sale.

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 multifamily owners and investors with a full suite of commercial real estate services, including Buyer Representation, Tenant Representation, Project Marketing & Sales, Asset Management, Project & Development Services, Research and Consulting.

Search here for Phoenix Multifamily For Sale, Arizona Land for Sale or Phoenix Commercial Real Estate For Sale.

View our Arizona Apartment Brokerage & Management Services or our Multi Family Residential Investments.

For more information, please visit: www.Vestis-Group.com.

17 replies
  1. https://europa-road.eu/ says:

    Greetings from Colorado! I’m bored at work so I decided to check out your website on my iphone during lunch break. I really like the information you provide here and can’t wait to take a look when I get home. I’m surprised at how quick your blog loaded on my mobile .. I’m not even using WIFI, just 3G .. Anyways, very good site!

  2. check that says:

    Can I simply say what a aid to search out someone who really is aware of what theyre speaking about on the internet. You definitely know learn how to deliver an issue to light and make it important. More individuals must learn this and understand this facet of the story. I cant believe youre not more fashionable because you undoubtedly have the gift.

  3. storno brzinol says:

    F*ckin’ amazing things here. I’m very satisfied to look your article. Thanks a lot and i am having a look forward to contact you. Will you please drop me a mail?

  4. stornobrzinol says:

    Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You clearly know what youre talking about, why waste your intelligence on just posting videos to your blog when you could be giving us something informative to read?

  5. zortilo nrel says:

    hi!,I really like your writing so so much! percentage we keep up a correspondence more approximately your article on AOL? I need an expert on this area to unravel my problem. Maybe that’s you! Looking ahead to see you.

  6. web url says:

    Great ?V I should definitely pronounce, impressed with your website. I had no trouble navigating through all tabs and related info ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or something, website theme . a tones way for your client to communicate. Nice task..

  7. Dr. Gőz Péter says:

    Heya i’m for the primary time here. I found this board and I to find It really helpful & it helped me out much. I’m hoping to provide something back and help others such as you aided me.

Trackbacks & Pingbacks

  1. … [Trackback]

    […] Read More Info here on that Topic: vestis-group.com/norwood-village-apartments/ […]

  2. … [Trackback]

    […] Find More on that Topic: vestis-group.com/norwood-village-apartments/ […]

  3. … [Trackback]

    […] Here you will find 43698 more Information on that Topic: vestis-group.com/norwood-village-apartments/ […]

  4. … [Trackback]

    […] Read More here on that Topic: vestis-group.com/norwood-village-apartments/ […]

  5. … [Trackback]

    […] Read More Information here on that Topic: vestis-group.com/norwood-village-apartments/ […]

  6. … [Trackback]

    […] Find More Information here on that Topic: vestis-group.com/norwood-village-apartments/ […]

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.