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SBREP Picks Up an Additional Multifamily Complex for $58M

SB Real Estate Partners is picking up another multifamily community near Phoenix – upping its total transaction volume to ~$200 million over the past two months. 

This purchase from SBREP is Cantamar Apartments, a 180-unit, garden-style property, with a sales price of $58.1 million. The property will be rebranded as Portola On Bell, according to a news release.

SBREP also has one additional property in North Phoenix under contract for nearly $90 million, which is slated to close in April.

Newly named Portola On Bell was built in 1998 and is located at 16630 N 43rd Ave. in Glendale, just four miles east of Arrowhead Ranch with immediate access to the substantial amenity base along Bell Road.  

The property offers residents commuting access to Phoenix’s major employment hubs across the Downtown, Scottsdale, Deer Valley and Desert Ridge/Kierland areas via I-17 and Loop 101.  Major employers in proximity include USAA, Discover Financial Services, Farmers Insurance and Blue Cross Blue Shield.


Inside The Story

SB Real Estate Partners

About Jason Middleton

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    Listing Status:Available
    Listing Type:Call for offers
    No. of Units:4
    Cap Rate:4.49
    Average Occupancy:1000
    Year Built:1987
    Year Renovated:2023
    Building Size:3444 Sq ft
    Lot Size:0.18 Acres
    No. of Stories:1
    Zoning Code:R2
    Opportunity Zone:No
    Price per unit:$200,000
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    Listing Status:Available
    Listing Type:Highest & best offer
    No. of Units:33
    Year Built:1968
    Building Size:28952 Sq ft
    Lot Size:2.37 Acres
    No. of Stories:1
    No. of Parking Spots:56
    Opportunity Zone:No
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  • ◦Sale/Acquisition
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