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PHOENIX, Dec. 17, 2020 /PRNewswire/ SB Real Estate Partners (SBREP) has announced the purchase of Casa Anita Apartments – a 224-unit multifamily community located in the West Valley submarket of Phoenix – for $35.3 million. The property had previously been under private ownership with a California-based family since 2005. SBREP will rebrand the property as Portola West Valley.
Casa Anita Apartments in Phoenix
Following SBREP s recent sale of Cordova Apartments in October of 2020, the purchase of Casa Anita Apartments represents the company s second acquisition within the West Valley submarket. SBREP originally acquired Cordova Apartments in 2019. We were thrilled to realize tremendous results with the sale of Cordova Apartments, and we remain bullish about the West Valley going forward. The acquisition of Casa Anita presents yet another significant value-add opportunity within this thriving pocket of Phoenix, said Srijin Bandyopadhy