PHOENIX, AZ - Over the past 12 months, a programmatic partnership arranged by Berkadia has now delivered more than $100 million in equity towards SB Real Estate Partners’ (“SBREP”) multifamily expansion throughout the Southwest. On August 25, SB Real Estate closed on the $56.4 million acquisition of Obsidian on Ocotillo (renamed “Portola Glendale”), a 232-unit multifamily property in the Glendale suburb of Phoenix, Arizona, with a $23 million investment from the.
SB Real Estate Partners acquired Cantamar Apartments, a 180-unit garden style community in Glendale, Arizona for $58.1 million. The property will be rebranded as Portola On Bell.