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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
The apartment complex now known as Portola at Papago was built in 1985. (CoStar)
The apartment complex now known as Portola at Papago was built in 1985. (CoStar)
CoStar News
October 7, 2021 | 8:30 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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