Los Angeles-based SAM Residential Group has acquired 1408 Casitas at Palm Valley, a 168-unit apartment property in Avondale, a submarket of Phoenix, for $36 million from 29th Street Capital. The deal is a value-add play for the investor.

1408 Casitas at Palm Valley was built in 1984 as a low-density apartment community with casita and townhouse-style homes. The property has one-, two- and three-bedroom floor plans with private patios and yards, faux hardwood floors, full-size washers and dryers, outdoor storage and skylights in every unit. The property also features a full amenity suite with a new fitness center, fire pit, swimming pool, dog park, a playground and a resident lounge.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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