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MODESTO, CALIF. — The Mogharebi Group (TMG) has brokered the sale of Edge at Lakewood Apartments, a multifamily property in Modesto, located south of Sacramento and east of the Bay Area. Osso Capital and Graceada Partners sold the property for $42.7 million.
Located at 1401 Lakewood Ave., Edge at Lakewood features 196 one- and two-bedroom units ranging from 598 square feet to 880 square feet. Community amenities include a fitness center, clubhouse, pool and covered parking. The property was built in 1985 on 7.63 acres.
The deal closed at the end of December and marked the largest multifamily transaction in California’s Central Valley in 2023, according to TMG. The buyer was not disclosed.