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PHOENIX — SB Real Estate Partners has purchased Azura Apartments, a multifamily property located at 2700 W. Sahuaro Drive in Phoenix, for $91 million. The buyer will rebrand the community as Portola North Phoenix.
Built in 1980, Azura Apartments features 387 units in a mix of one- and two-bedroom floor plans ranging from 474 square feet to 924 square feet. Community amenities include a recently modernized clubhouse, three swimming pools, three laundry facilities, secured-access gating, barbecue areas and playground areas.
Cliff David and Steven Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the buyer in the deal.