Phoenix, AZ – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of Playton Plaza, a 20,648-square-feet, one and two-story, mid-century modern office building complex located in midtown Phoenix. The commercial office asset commanded a sale price of $790,000 or $38 per square foot.

The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs, Les Litwin and Chad Barber negotiated the transaction on behalf of the buyer, MODE Apartments of Phoenix, and the seller, Bakerson Real Estate Capital Management, a private investment firm from Phoenix, Arizona.

“We are excited to start working on this adaptive reuse project,” says Les Litwin, Principal at Vestis Group, “Playton Plaza will be transformed from a vacant office complex into twenty-three apartment homes with modern residential amenities. We intend to keep the spirit of the original midcentury modern architecture as we revitalize and improve this asset.”

Playton Plaza is located in Midtown Phoenix, just minutes from the “Golden Corner” of 24th Street & Camelback, Camelback Corridor, Downtown Phoenix, Sky Harbor International Airport and numerous Valley hotspots, including: Postino WineCafe, Oregano’s, St. Francis, Windsor, Little Cleo’s at The Yard, Culinary Dropout at The Yard, Taco Guild and Starbucks at Old School 07. The property is located in Midtown Phoenix 1.3 miles south of Camelback Road along 16th Street allowing easy access to Biltmore Fashion Park, the Camelback Corridor, the valley freeway system and numerous employers. Wellington Apartments is located approximately one half mile from the State Route 51 (Piestewa Freeway) which connects to Interstate 10 (Maricopa Freeway), Loop 202 (Red Mountain Freeway), providing easy access to Downtown Phoenix, Sky Harbor International Airport, Tempe, Scottsdale, the southeast and southwest Valleys. Built in 1963 and 1973, Playton Plaza has flat roofs and block construction, one and two-story buildings.

Vestis Group is the broker of choice for individuals and institutions investing in multifamily residential real estate throughout Metropolitan Phoenix. Our advisors assist clients in the acquisition and disposition of multifamily investment assets, including, apartments, bulk condo packages, duplex/triplex/fourplex properties, single-family rental portfolios (SFR Portfolios) and income producing single-family investment properties. 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.

Phoenix, AZ – CBRE has completed the sale of Courtney Village, a 368-unit multifamily community located at 4848 E. Roosevelt Street in Phoenix, Arizona. The property commanded a sale price of $45.5 million.

Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction on behalf of the seller, Irvine, CA-based PASSCO. The buyer was Continental Realty Advisors of Denver, CO.

“Courtney Village has broad resident appeal. The community’s central infill location provides immediate access to established, diverse employment corridors as well as urban entertainment hubs,” said CBRE’s Cunningham. “With a submarket occupancy rate of 95 percent and major recent submarket employment announcements, Courtney Village is well-positioned to experience further rent growth.”

Developed in 2002, Courtney Village is a desirable garden-style community with lush green landscaping and attractive community amenities including two resort- style pools, spa, 24-hour fitness center, gated access, and a dog park. Spacious one-, two- and three-bedroom open floorplans feature nine-foot ceilings, well-appointed kitchens, walk-in closets, full-size washer/dryers, and private patios/balconies.

TUCSON – Diamond Ventures announced today that Nathan Levy has been named Director of their new office in Denver, Colo., which opened on June 20, 2016.

“We are excited about our growth plans in Denver and the surrounding region, and extremely pleased that Nathan Levy will be directing this expansion,” said David Goldstein, president of Diamond Ventures, Inc. “Nathan knows the Denver market, and has gained diverse, valuable management experience working in real estate investment, venture capital and private equity at our Tucson office.”

Levy will be responsible for developing, acquiring and managing Diamond Ventures’ real estate and venture capital investments in Colorado, as well as other markets including Utah and Texas.

“I am very pleased that my grandson, Nathan Levy, will lead this important expansion for our company, said Donald R. Diamond, founder of Diamond Ventures. “I am very proud that Nathan shares the same passion and vision that I do for business investment and real estate development, and has chosen a similar career path that I chose more than 50 years ago.”

Levy received a master’s degree in business administration and a master’s degree in information systems from Boston University’s Questrom School of Business, after receiving a bachelor’s degree in international business administration from University of Denver’s Daniel’s College of Business.