Casa Anita is SB Real Estate’s Second West Valley Acquisition
Casa Anita Apartments – a 224-unit multifamily community located in the West Valley submarket of Phoenix – was recently acquired by SB Real Estate Partners (SBREP) for $35.3 million. This acquisition presents yet another significant value-add opportunity within this pocket of Phoenix, said Srijin Bandyopadhyay, managing principal at Irvine, CA-based SBREP.
The property previously had been under private ownership with a California-based family since 2005. SBREP will rebrand the property as Portola West Valley.
The two-story garden property was originally built in 1986 and is located 1801 N. 83rd Ave. The 18-building property totals 199,808 square feet on 8.7 acres, offering primarily two-bedroom floor plans.
Property renovations planned by SBREP will include modernizing the leasing clubhouse, building exteriors and common area amenities, and interior unit upgrades.
This acquisition follows SBREP’s sale of Cordova Apartments in October 2020, after its 2019 acquisition.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).