The Mogharebi Group (TMG) has arranged the $14.75 million sale of Birch Commons, a 49-unit multifamily property in Fresno, CA.  

Located on 4.77 acres at 1850 E. Birch Avenue, Birch Commons is a townhome-style apartment community with a unit mix of one-, two-, and three-bedroom floor plans. The spacious apartment homes range from 939 to 1,701 square feet and feature granite countertops, in-unit laundry or hookups, vaulted ceilings, fireplaces, and private yards. Common area amenities include a swimming pool, clubhouse, fitness center, and designated one- to two-car garages.Birch Commons is situated roughly two miles east of the SR 41 highway and within a five-minute drive of CSU Fresno.

The sale marked the first time the asset traded hands, as the original developer owned the property since it was built in 2006. Robin Kane, Brendan Kane, and Gordon Larkin of TMG’s Fresno office represented the seller, a Central Valley builder, in the transaction. The buyer was a family office represented by Dustin Ilic and Nick Sheehan of the Visintainer Group.

“Because Birch Commons is an institutional-quality asset and presented such a rare acquisition opportunity in Fresno’s high-demand Woodward Park neighborhood, we were able to achieve one of the market’s highest prices per door ever at more than $300,000,” said Senior Vice President Robin Kane. “Investors don’t often see a stabilized, legacy asset come to market in such a strong area. The last opportunity like this in the Fresno metro came before the pandemic.”

Fresno, California’s fifth most populous city, has experienced significant growth despite a period of general population decline in the state. Especially since the start of the pandemic, this positive net in-migration has been driven by Fresno’s relative affordability compared to more expensive coastal markets. Empowered by the resulting tight supply and low vacancy, the city’s apartment investment sector has risen in prominence. LoopNet ranked Fresno No. 1 nationally for multifamily investment opportunities under $20 million based on liquidity, rent growth, and demand.

The Mogharebi Group (“TMG”) has arranged the $2.1 million all-cash acquisition of a 1.5-acre development site in South Seattle by locally based real estate development, investment and management firm Bode. 

Senior Vice President Ryan Kidwell, who leads TMG’s Seattle office alongside Robert Parmar, represented Bode in the transaction. Located at 5960 Martin Luther King Jr. Way, S., the proposed 330-unit project to be built on the site promises to bring much-needed attainable housing to the market, according to Kidwell. 

“It can be difficult to make development sites pencil in the current market because there remains a disconnect between buyers and sellers, and financing options are extremely limited,” said Kidwell. “Leveraging our strong relationships with local developers, we were able to identify the opportunity in this deal, negotiate a fair price for our client, and go under contract within 48 hours of it coming to market.” 

Kidwell’s team also assisted Bode with the complex due diligence process that involved wetland mitigation. 

“The Puget Sound region’s topography is quite varied, so developable land in Seattle usually comes with some type of hurdle—and this property was no exception,” Kidwell added. “Since the land is partially impacted by wetlands, we had to determine the best options to mitigate those sensitive areas while still allowing our client to cost-effectively develop the site.” 

Bode, an active owner and developer of quality affordable housing for lower-to-middle-income renters in the Seattle area, is also currently in escrow on a few additional sites across the Puget Sound region, according to Kidwell, who has represented Bode in several other transactions. 

The Mogharebi Group (TMG) has brokered the $7.25 million sale of a multifamily community in the Orange County community of Costa Mesa, CA. The buyer of the fully occupied property is an Orange County-based private investor.

Built in 1954 and 1986, the property is located at 221½ - 233 Avocado St. on a 1.14-acre site with easy access to the Costa Mesa Freeway. Situated on two parcels, the asset features a mix of two-bedroom townhomes, two-bedroom single-story detached apartment homes, one-bedroom, and studio units with select units including garages, patios and washer/dryer hookups. The low-density property holds the potential for ADU expansion.

“Despite the unfavorable debt market, we were able to obtain an outstanding price for this generational asset, one of the higher sales in the market for two-bedroom units,” said TMG’s Brett Bayless, who teamed with fellow Senior Vice President Ben Ketel to represent the seller. 


Indicative of the healthy investor appetite for multifamily assets in the area, the 221½ - 233 Avocado St. sales price of more than $483,333 per conforming unit represented a 25% percent increase over the 2021 per unit median price of $386,236. According to PwC and Urban Land Institute’s “Emerging Trends in Real Estate 2022,” Orange County ranked fourth nationally in multifamily investment favorability.

In a market that long term has faced housing shortages, only 224 multifamily units are planned in Costa Mesa over the next five years, falling well short of the expected formation of 810 new households over that same period, according to TMG research. 

221½ - 233 Avocado St. offers easy access to shopping and entertainment, including nearby South Coast Plaza, the largest  mall in Southern California. The property is only minutes away from Newport Beach and John Wayne Airport. Within close proximity are three major educational institutions – Orange Coast College, Vanguard University and the University of California-Irvine – that have a combined enrollment exceeding 60,000 students. 


The Mogharebi Group is one of the largest multifamily brokerage firms in the United States by volume. With offices throughout California, Seattle and Salt Lake City, The Mogharebi Group offers private investors and investment funds deep local market knowledge, an extensive global network of top real estate investors, state-of-the-art technology and direct access to capital with over $800 million in regularly revolving inventory. For more information visit: Mogharebi.com

The Mogharebi Group (TMG) has arranged the $18.365 million sale of the 66-unit Samish Station 3, the third and final phase of Samish Station, a 119-unit multifamily community in the Puget Sound city of Bellingham, WA. The buyer, a local family investment partnership, acquired the first two phases of the development earlier this year for $17.6 million.

“We achieved top pricing for Samish Station through our ability to source strong local connections and relationships,” said Mogharebi Group’s Ryan Kidwell, who teamed with fellow Senior Vice President Robert Parmar in representing the Bellingham-based developer-seller. “That came despite the substantial complexities involved with this property and the overall challenging capital markets environment. We came to an agreement early on in the process but had to creatively structure things given that the final phase wasn’t completed at the time. We were able to successfully steward the deal to completion.”

Samish Station offers a range of one- to four-bedroom units in three five-story apartment buildings on an 0.90-acre site at 109 N. Samish Way. Community amenities include a resident clubhouse with kitchen, a fitness center, a patio and grill area, study and lounge spaces, and game rooms.

“The supply and demand dynamics are very favorable for Samish Station, and it’s evident in the tight market vacancy of 1.5% and 5% year-over-year rent growth with only 3.5% of existing inventory under construction,” added Parmar. “In addition, the property benefits from its proximity to Western Washington University and the need for quality and affordable student housing.”

Western Washington University, which has an enrollment of more than 15,000 students, is only three minutes away from Samish Station. Community residents also enjoy very easy access to Interstate 5 and downtown Bellingham, which offers a wealth of restaurants and breweries, as well as a thriving arts scene. In addition to Bellingham Bay, other recreational destinations close to Samish Station include the 180-acre Sehome Hill Arboretum and the 240-acre Whatcom Falls Park.

TMG arranged the sale of Samish Station 1 and Samish Station 2 in the second quarter for a total of $17.635 million. The $332,735 per unit price in that transaction was the highest in Whatcom County history. 

 The Mogharebi Group (TMG) has brokered the sale of a 44-unit garden-style multifamily community in Palm Springs, CA for $11.25 million. The buyer of the fully occupied property is a California-based affordable housing investor.

Sunnyview Villa Apartments’ two- and three-bedroom units are housed in seven two-story walk-up residential buildings on a 3.86 acre-site at 2900 N. Indian Canyon Dr. Built in 1980.  The well-maintained affordable housing community is less than three miles from the shopping, dining, and entertainment opportunities in Downtown Palm Springs, as well as medical services at nearby Desert Regional Medical Center.

“Due to rapid increases in housing costs, demand for affordable alternatives like Sunnyview Villa has never been higher,” said Mogharebi Group Executive Vice President Otto Ozen, who represented the California and Utah-based private investor sellers. “Those market forces combined with current economic trends supporting more rental demand put this well-located community, which has a waiting list and strong in-place cash flow, in a bigger investment spotlight. As a result, we were able to close at full asking.” 
 
California accounts for more than 25% of the nation’s deficit of 3.8 million housing units, according to a mid-year national housing report. The two-county Inland Empire, where Palm Springs is located, matched Phoenix for the largest gain in new households in 2020, with Riverside and San Bernardino counties experiencing a 50 percent increase, according to the Wall Street Journal.

The Mogharebi Group is one of the largest multifamily brokerage firms in the United States by volume. With offices throughout the western United States, The Mogharebi Group offers private investors and investment funds deep local market knowledge, an extensive global network of top real estate investors, state-of-the-art technology, and direct access to capital with over $800 million in regularly revolving inventory. For more information visit www.Mogharebi.com.

The Mogharebi Group (TMG) has arranged the $9.25 million sale of Plaza Grande, a 92-unit multifamily community in Salinas, CA. TMG represented the Monterey-based developer-owner of the fully occupied affordable housing community in its sale to a Los Angeles County-based private investor.

Built in 2003, Plaza Grande offers one-bedroom units ranging in size from 260 to 590 square feet. Renovations, including new flooring, cabinetry and vanities, have been made on a rolling basis. Located at 50 East Market St. in downtown Salinas, the three-story apartment community includes a gym, courtyard and picnic area with grills. 

“Despite rising interest rates hampering the real estate capital markets, we were able to attract multiple interested buyers to Plaza Grande, ultimately topping $100,000 per unit in this sale,” said TMG Executive Vice President Otto Ozen, who along with Senior Investment Advisor Nazli Santana brokered the transaction. “The universal need for affordable housing, aided by Baby Boomer demographics and an even more robust overall renter economy, has created so much demand that the California Housing Partnership projects that 120,000 more affordable units will be needed each year by 2030.” 

Even with the overall favorable multifamily supply and demand dynamics, Mogharebi had to overcome several obstacles in achieving a successful sale, including a limited Low-Income Housing Tax Credit (LIHTC) investor pool and the non-traditional unit sizes at Plaza Grande, according to Santana.

“We were able to demonstrate that as a LIHTC community, Plaza Grande offered extra investment appeal, such as a more stable tenant base and consistent, reliable government-backed rent payments,” said Santana.  “Also, landlords will likely benefit from reduced competition as more affordable housing properties participating in the 30-year LIHTC program become eligible for market-rate conversions or are removed from the rental market altogether. Finally, Plaza Grande is located in an Opportunity Zone, which offered considerable tax advantages to the buyer.”

The county seat and most populous city in Central California’s Monterey County, Salinas is only about 12 miles from the coast, an hour south of San Jose and an hour and 45 minutes south of San Francisco. Known as the “Salad Bowl of America”, Salinas and the surrounding rich farmland support a $2 billion agricultural industry that produces an abundance of fruit, vegetables and more. The city’s close proximity to Silicon Valley and a large number of agricultural employers have put it on the path to becoming the AgTech Capital of the nation.

The Mogharebi Group is one of the largest multifamily brokerage firms in the United States by volume. With offices throughout the western United States, The Mogharebi Group offers private investors and investment funds deep local market knowledge, an extensive global network of top real estate investors, state-of-the-art technology, and direct access to capital with over $800 million in regularly revolving inventory. For more information visit: http://www.Mogharebi.com.