Robin Kane and Brendan Kane who head The Mogharebi Group’s (“TMG”) Fresno office have advised the local seller on a $7.8 million sale of the 62-unit Willow Court Senior Living Community in Fresno, CA. The property was acquired in an all-cash transaction by a Bay Area-based family office.
Built in 1994, Willow Court is located at 1733 S Willow Avenue on the south side of Fresno, across the street from Fresno Pacific University and less than a five-minute drive from Eastgate Shopping Center and a Walmart Supercenter. The fully occupied single-story independent senior housing community offers a unit mix of one- and two-bedroom floorplans averaging 760 square feet. The 3.74-acre gated community features a clubhouse with kitchen and fireplace, outdoor picnic area with barbecues, on-site laundry, and manicured open spaces. Willow Court was 100 percent occupied at closing.
“We attracted bidders who recognized the property’s strengths and advised the seller to accept an appealing offer from an experienced senior housing investor,” said Robin Kane.
In April, the Kane team represented the seller in the sale of the 49-unit Birch Commons. The $14.75 million transaction was one of the highest prices per door ever paid for a multifamily property in Fresno.