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Pathfinder Partners Sells Arizona Complex

Pathfinder Partners based in La Jolla has sold an Arizona apartment complex for $30.9 million.
The Sterling, a complex with 107 apartments in the Phoenix suburb of Gilbert, was acquired by Casa Anita Apartments, LLC.
Built on a 9.3-acre site in 2000, the complex of 13 residential buildings has six studio lofts, 21 one-bedroom, one-bathroom apartments, 40 two-bedroom, two-bathroom apartments, and 40 three-bedroom, three-bathroom apartments.
Pathfinder Partners acquired the property, previously known as The Vintage, in December 2017 and made $1.4 million in renovations before selling it.
The Sterling was 97% occupied at the time of the sale.
David Fogler of Cushman & Wakefield Multifamily Advisory Group brokered the transaction. ....

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SB Real Estate Partners Acquires Casa Anita Apartments in Phoenix's West Valley for $35.3 Million

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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 ....

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