Phoenix-based Right Place Properties is well known throughoutthe Valley for its condo conversion projects. The new owner plansto convert Casa Blanca Villa at located at 4615 N. 39th Ave. intocondos, says Joseph Yu of Phoenix-based Advanced Equities whorepresented the seller.

Yu tells GlobeSt.com that Casa Blanca Villa received offers frommore than a dozen potential buyers. "The investors were a mix ofcondo converters and apartment owners," he says. He also notesthere was "heavy interest from condo converters fromCalifornia."According to Yu, Right Place Properties made anall-cash offer and promised to close in 30 days. "That reallyhelped cement the deal," he says.

Built in 1975, Casa Blanca Villa consists of 27 one bedroom,two-story townhouses averaging 1,020 sf. The leasing office will beconverted to a one-bedroom condo as well. According to Yu, all thetownhouses were condo-mapped, meaning each unit has its own parcelnumber.