SB Real Estate Partners has completed the sale of two-properties, Portola at Grovers Park and Portola West Valley in Phoenix, Arizona to Rise48 Equity.
/PRNewswire/ SB Real Estate Partners "SBREP" has acquired East 3434 Apartments, a Class B, 128-unit garden-style apartment community located in Phoenix,.
Share this article
Share this article
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