TUCSON, ARIZONA — The Real Estate Community of Southern Arizona congratulates Michael Del Castillo, for his new leadership role as  SAHBA Chairman for 2022. Michael recently had this to say to all SAHBA members.

I am truly honored to have the opportunity to serve as the Chairman of the SAHBA Board of Directors for 2022, and I know that my mother and father would be very proud that I will be the first Hispanic person to serve in this role in the organization’s prestigious 70-year history.

Throughout my time on the Board, I have been continually surrounded by talented, dedicated and focused individuals who have the best interests of our members and industry in their hearts. I would like to thank them – especially outgoing Chairman Tom Gansheimer – for their service to our organization. I would also like to extend my personal thanks to you, our members, for your ongoing support of all of us at SAHBA and would like to ask you for your continued trust and support as we embark on another important year for the organization.

It is no secret that the past two years have been unlike anything we’ve experienced in our lifetimes. The COVID-19 pandemic has posed healthcare and economic challenges throughout the world. The ups and downs caused by the pandemic have taken physical, financial and emotional tolls on many of us, our employees, friends and families. We’re also dealing with unprecedented issues in home building, as labor challenges, material shortages and regulatory hurdles have become daily occurrences for our industry.

Just because the calendar has rolled over to a new year, it unfortunately doesn’t mean these challenges are behind us.

That said, I can assure you that the SAHBA Board – and our professional staff – will continue to do everything in our power to ensure we navigate, adapt and most importantly move forward together.

The strategic plan and key priorities outlined below have been developed with this primary goal in mind.

In closing, I’m confident our industry will remain resilient and our association strong…but we will need your help. Together, we can accomplish our priorities to the benefit of our members and the entire home building community.

Thank you.

Glendale, Arizona — SB Real Estate Partners (“SBREP”) has acquired Cantamar Apartments, a 180-unit garden style multifamily community in Glendale, AZ for $58.1 million ($322,777 per unit).  The property will be rebranded as Portola On Bell.

SBREP has been an active investor in the greater Phoenix MSA, with approximately $200 million in transaction volume over the past two months. SBREP also has one additional property in North Phoenix under contract for nearly $90 million, which is slated to close in April.

“Given the diverse and high-quality employment growth throughout the metro, we continue to remain bullish towards the Phoenix apartment market on an intermediate to longer-term basis,” said SBREP Founder & Managing Principal, Srijin Bandyopadhyay.  “Employers continue to be drawn in by the deep labor pool and the city’s pro-business environment, along with robust net in-migration resulting from the relatively affordable cost of living.  These factors collectively continue to drive very favorable supply / demand dynamics for multifamily investors.”

Built in 1998, the property is located at 16630 N 43rd Avenue in Glendale, just four miles east of Arrowhead Ranch with immediate access to the substantial amenity base along Bell Road.  The property offers residents commuting access to Phoenix’s major employment hubs across the Downtown, Scottsdale, Deer Valley and Desert Ridge/Kierland areas via I-17 and Loop 101.  Major employers in proximity include USAA, Discover Financial Services, Farmers Insurance and Blue Cross Blue Shield.

The property consists of large floor plans averaging 1,086 square feet across the entire unit mix, with one-bedroom offerings averaging 834 square feet, two-bedrooms representing almost half of the property and averaging 1,181 square feet, along with three-bedrooms averaging 1,366 square feet.  All units include washer-dryers, 9-foot ceilings and spacious balconies.  Tenant amenities include a community swimming pool, a fitness center and a resident clubhouse with a business center.

SBREP is planning a $4 million capital improvement program to enhance the property’s exterior / curb appeal, common area amenities and unit interiors.

SCOTTSDALE, ARIZONA – Fidelity National Title Agency is pleased to announce that Diane Day, who possesses 36 years of title and escrow expertise, has been promoted to President/County Manager.

Day has been a vital member of Fidelity National Title’s leadership team for 14 years. She was promoted from Senior Vice President of Operations. Fidelity National Title operates a number of branches in the Valley.

Day’s primary responsibility was to manage and mentor each of the branch managers and their teams. Day’s 36 years in various facets of the title industry have given her insight and expertise in the commercial, residential, and builder arenas.

In her new role, Day will oversee the management of personnel, production, financial results, and market penetration for escrow and title related services. She will continue to manage and mentor branch teams as well as the ancillary departments at Fidelity National Title.

“Diane’s breadth of experience comes not only from holding positions such as Escrow Officer, Escrow Manager, and Operations Manager, but also from her philosophy of collaborative leadership,” said Jim John, Executive Vice President and Division Manager with Fidelity National Financial. “Her passion for title and escrow will continue Fidelity National Title Agency’s long track record of providing an unmatched customer experience.”

Day is involved with local industry groups including NAIOP Arizona, ULI Arizona, and Valley Partnership. She gives back to the community through her philanthropic endeavors with Phoenix Children’s Hospital and as a certified Rescue Diver. Day is also actively involved with organizations for the preservation and conservation of the ocean.

“I believe to live your best career life, you must remain humble, curious and coachable,” Day said. “Creating a culture of empowering leaders to live their full career potential and to be part of the journey where individuals accomplish more than they ever thought possible is what I strive for.”

A native of Dayton, Ohio, Day moved to Arizona when she was 4 and was raised here. She earned a bachelor’s degree in business management from the University of Arizona.

Away from the office, Day enjoys playing the flute, the outdoors, golfing, hiking, and spending time with her family, which includes three children and three grandsons.