FOR IMMEDIATE RELEASE:

VESTIS GROUP ANNOUNCES FORMAL PARTNERSHIP WITH DICK JAMES & ASSOCIATES

Vestis Group and Dick James & Associates Partnership to manage apartment communities in Houston, Texas


TEMPE, Arizona - (March 2, 2009 ) – Vestis Group (www.vestis-group.com), an Arizona based commercial real estate brokerage, management, investment and development firm specializing in multi-family housing, announced today that it will be expanding into the Houston, Texas market, as part of a joint-venture with Sacramento based Dick James & Associates.

Dick James & Associates currently manages over 7,000 units across Phoenix, Tucson, Reno, Sacramento, and Dallas/Fort Worth. Dick James, President of Dick James & Associates,  received his CCIM designation in 1972, has been involved as a General Partner in over 30 partnerships involving more than 3,000 apartment units. Over the years, James has dealt with many management companies and has experienced, first hand, what works and what doesn't work and has applied that knowledge to his approach to managing apartments.

“In this market, with financing as tight as it is, the key to surviving is managing expenses down and maximizing cash flow. Dick has a great system in place for turning around “troubled” or under-performing properties – it is really fun to watch,” explains Natan Jacobs, Principal and Designated Broker for Vestis Group. “We provide Dick’s investor’s with real-time market information and are available to provide disposition and acquisition services when the opportunity presents itself. Expanding into the Houston market with Dick James was a no-brainer as we both have several investors with assets there who could benefit from Dick’s expertise.”

About Vestis Group                                                                                                                       

Vestis Group is an Arizona based commercial real estate brokerage, management, investment and development firm specializing in multi-family housing. We offer traditional brokerage and management services coupled with innovative and ongoing real estate investment strategies. We have more than 21 years combined real estate experience and over $400 million in completed transactions. 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 investors. We have brokered, managed and/or renovated in excess of 3,500 units, with asset quality ranging from Class A to D.  Vestis Group is owned and managed by Natan Jacobs and Les Litwin.

Contact Info                                                                                                                                    

Natan Jacobs

Principal, Designated Broker

Vestis Group

Office: 480.966.3200

Email: natan@vestis-group.com

 

Related Links                                                                                                                                  

www.vestis-group.com

www.djaproperties.com




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