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BAKERSFIELD, CALIF. — The Mogharebi Group (TMG) has arranged the acquisition of Vantage Point Apartments, a multifamily community in Bakersfield. A Central Valley-based investor acquired the asset for $16.5 million in an off-market transaction. The name of seller was not released.
Built in 1985, Vantage Point features 144 one- and two-bedroom apartments ranging from 597 square feet to 805 square feet. Amenities include large closets, ceiling fans, a heated pool, laundry facilities and gated access. The property is situated on 6.31 acres at 6001 Auburn St.
Mark Bonas of TMG represented the buyer in the deal.