Private Investor Acquires Multifamily Portfolio in Modesto for $32.5M

MODESTO, CALIF. — A private Southern California-based investor has purchased a two-property multifamily portfolio in Modesto for a total of $32.5 million. The portfolio includes the Commons Apartment Homes, a 100-unit community on Standiford Avenue, and Summerview Apartment Homes, a 136-unit community on Prescott Road. Built on a 4.3-acre site in 1989, the Commons is located at 1600 Standiford Ave., while Summerview is situated on a five-acre site on Coffee Road. Alex Mogharebi and Otto Ozen of the Mogharebi Group represented the seller, a Massachusetts-based investor, in this transaction.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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