Amy Deering

SB Real Estate Sells Phoenix Portfolio for $96M

By Olivia Bunescu– January 19, 2022 SB Real Estate Partners has sold a multifamily portfolio including Portola at Grovers Park and Portola West Valley, both in Phoenix. Rise48 Equity acquired the properties totaling 365 units for $96.4 million and is planning an $8 million refurbishing plan bringing upgrades to all unit interiors as well as property exteriors. Rise48 Equity is …

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SB Real Estate Partners Sells Phoenix Multifamily Portfolio to Rise48 for $96.4 Million

Irvine, CA (January 18, 2022) — SB Real Estate Partners (“SBREP”) has completed the sale of a two-property, 365-unit multifamily portfolio in Phoenix, AZ to Rise48 Equity for $96.4 million. The sale, structured as separate transactions closing two weeks apart, included the 141-unit Portola at Grovers Park in North Phoenix and the 224-unit Portola West …

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SB Real Estate Partners acquires multifamily community in Las Vegas, Nevada for $73.1 million

Acquisition is the second in Las Vegas MSA over the past seven weeks for Irvine-based firm Irvine – December 23, 2021 – SB Real Estate Partners (SBREP) has made its second multifamily investment in the Las Vegas MSA over the past seven weeks with the $73.1 million off-market acquisition of St. Croix Apartments, a 256-unit garden-style …

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SB Real Estate Buys 2nd Las Vegas Asset for $73M

By Anda Rosu December 23, 2021 The company plans to invest $4 million into capital improvements. SB Real Estate Partners has purchased its second multifamily community in Las Vegas, the 256-unit St. Croix, for $73.1 million, in an off-market transaction. Cushman & Wakefield brokered the sale on behalf of the seller, Strata Equity, while Berkadia arranged …

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SB Real Estate Partners Enters Las Vegas Multifamily Market with $67 Million Acquisition Near Summerlin

(Irvine, CA) –SB Real Estate Partners (SBREP) has acquired The Russell Apartments, a 241-unit garden-style apartment home community for $67.0 million, marking the California-based multifamily investment firm’s entry into the Las Vegas real estate market.  The Russell Apartments, which will be rebranded as Portola on Russell, is located at 9620 W. Russell Road in West …

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SB Real Estate Partners Breaks into Inland Empire with Redlands Acquisition for $46.2M

Multifamily Investment Firm Purchases 124-unit Apartment Community for $46.2 Million REDLANDS — October 19, 2021 — SB Real Estate Partners “SBREP” has acquired ReNew Redlands, a Class B, 124-unit garden-style apartment community located in Redlands, CA, for $46.2 million. The property has been renamed Portola Redlands and SBREP intends to execute a $2.5 million capital …

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Renew 3030 Presents Value-Add Opportunity

Phoenix & Southwest + Phoenix + Apartments | October 18, 2021 By: Lisa Brown With more units to renovate, Renew 3030, presented a notable value-add strategy to buyer SB Real Estate Partners. The 126-unit multifamily community in Mesa, AZ, was acquired for $24.3 million. Renew 3030 is a garden-style apartment community comprising five buildings and 126 units on 4.59 acres. Built …

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California Multifamily Investor Pays $27.5 Million for Phoenix Apartments

SB Real Estate Partners Plans To Spend $2 Million To Renovate Apartments Near Downtown By Randyl DrummerCoStar NewsOctober 7, 2021 | 1:30 P.M. Multifamily investment firm SB Real Estate Partners paid $27.5 million, or $214,844 per unit, for a garden-style apartment complex on Phoenix’s east side as out-of-state buyers are increasingly drawn to the fast-growing market. …

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