VISALIA, Calif.--(BUSINESS WIRE)--The Mogharebi Group (TMG), a leading multifamily brokerage firm in California, has completed the sale of Cameron Crossing, a 96-unit community, that is located on Cameron Avenue in Visalia, CA. The property sold with multiple offers for $16,320,000 that equates to a record-breaking price of $170,000 per unit. The buyer was a private family from Visalia.
“This sale of Cameron Crossing represents a record for apartment communities in Visalia. The record setting price is attributable to several factors, including a lack of inventory available, our proprietary exchange platform, Class A construction, desirable unit mix, and strong rental growth in the submarket” says Otto Ozen, Executive Vice President of TMG. “We aggressively marketed Cameron Crossing to our list of high net worth private as well as exchange buyers. This strategy generated interest from buyers across California and resulted in multiple offers. Ultimately one of our high net worth private clients stepped up and won this terrific deal.”
Principals Alex Mogharebi, Otto Ozen, Robin Kane, Mark Bonas, and Brendan Kane of TMG represented the seller, a Washington State based private investment group.
Built on a 4.8-acre site for a comfortable density of 20 units per acre. Cameron Crossing features spacious one, two, and three-bedroom floor plans with an average size of 957 square feet. It boasts a swimming pool, laundry facilities, clubhouse, spa, and reserved parking.
About The Mogharebi Group (TMG): The Mogharebi Group is a brokerage firm specializing in the multifamily property sector throughout California. With unrivaled local knowledge, an extensive global network of top real estate investors, a fully integrated platform, and direct access to capital, The Mogharebi Group is the best choice to meet the needs of major private investors and investment funds.
For more information visit: Mogharebi.com.