The Mogharebi Group (TMG) has arranged the $8.5 million sale of Northport, a 60-unit multifamily community in Victorville, CA, to the Housing Authority of the County of San Bernardino (HACSB).

Located at 14243 Rodeo Dr. in San Bernardino County’s fifth largest city, Northport is comprised entirely of highly desirable two-bedroom, two-bathroom floor plans housed in seven two-story residential buildings on a 3.26-acre site. Community amenities include a swimming pool, covered parking, laundry facility, gated /controlled access, and rentable storage areas.  Northport was 96 percent leased at the time of closing.

Otto Ozen, TMG Executive Vice President represented the seller, an Inland Empire Private Investment Group. The ability to assume the existing debt at a fixed rate of 3.31 percent with significant term remaining resulted in an extremely competitive bidding process, according to Ozen.

“We generated 18 offers from a wide spectrum of bidders, ultimately selecting HACSB, which will add Northport to its existing pool of affordable housing in the region.”

“It’s always exciting when we can increase the number of affordable homes in our communities,” said Rishad Mitha, HACSB’s Deputy Executive Director. “By acquiring Northport, we are able to provide a safety net for residents to ensure their homes remain affordable long-term.”

Northport is situated near several shopping centers, numerous dining options, and both Doris Davies Park and Mojave Narrows Regional Park. The property provides easy access to the 15 Freeway, US-395, and SR-18, which connect residents to the education, retail, entertainment, and employment centers found throughout Victorville, the entire High Desert region, and the Inland Empire.

Founded in 2015, The Mogharebi Group is one of the leading multifamily brokers in the state of California, according to real estate research and advisory firm Green Street. TMG has been involved in closing almost 10,000 units in the Inland Empire with total value nearing $2 billion.

The Mogharebi Group (TMG) has arranged the $13.6 million sale of Cedar Oaks Apartments, a 98-unit multifamily community in Bakersfield, CA. Senior Vice President Mark Bonas represented the seller in the off-market transaction.  Both Buyer and Seller are local Central Valley investors. According to CoStar, this sale represents the 2nd largest transaction this year in Bakersfield. 

“The Buyer is an experienced Central Valley investor who wanted to add to his holdings in Bakersfield,” said TMG’s Bonas. “The Buyer reached out to TMG with a requirement to acquire a property within a specific unit size and price range. Given our experience and relationships in the area, we were able to quickly identify a property whose owner might be ready to sell.   We were able to go into escrow within days.” 

The garden style community sits on a 1.76-acre site at 3300 Gosford Road.  Built in 1984, the property is comprised entirely of two-bedroom apartment homes. Each unit features an all-electric kitchen, washer/dryer hookups, covered parking, and access to a community pool. It is surrounded by some of Bakersfield’s most affluent neighborhoods including Olde Stockdale and Seven Oaks at Grand Island.   The property also attracts students from Cal State Bakersfield, which is only two miles away, helping the property consistently achieve high occupancy levels. 

The property was 98.5% leased at closing. 

As a leader in multifamily investment advisory since its founding in 2015, The Mogharebi Group has been especially active in the Central Valley—closing on more than 10,000 units in the region with total value exceeding $1 billion. 

Costa Mesa, CA – (October 2, 2023) The Mogharebi Group (TMG) has arranged the $17.9 million sale of Rosemont Terrace, a 100-unit garden-style multifamily community in Sacramento, CA. Mogharebi Executive Vice President Otto Ozen represented the seller, a Southern California-based private investment group.

Built in 1970, Rosemont Terrace is located at 3690 S Port Dr. The mix of one-, two-and three- bedroom apartment homes is housed in 15, two-story residential buildings on a nearly five-acre site. Community amenities include a swimming pool, laundry facilities, an outdoor picnic area, and carport parking. The property benefits from several demand drivers, including the highly-rated Sacramento Unified School District. Rosemont Terrace is within walking distance to the elementary, middle, and high schools in the neighborhood. Residents are also within a 30- minute commute to nearly 800,000 jobs.

“Rosemont Terrace is a fundamentally sound property which had its share of challenges resulting from the Covid pandemic,” said Ozen. “With those issues behind us, we were able generate numerous offers from a wide variety of investors.”

The winning bid was largely based on the buyer’s knowledge and experience with the intricacies of the Sacramento market, according to Ozen. The buyer plans to improve occupancy by bringing in professional management to improve operations.

Multifamily investment advisory firm The Mogharebi Group continues to expand its footprint throughout the West Coast, opening an office in Portland, OR under the direction of James L. Giblin, who joins the firm as Senior Vice President. 

Since its founding in 2016 by 30-year-multifamily industry veteran Alex Mogharebi, The Mogharebi Group has grown from its Southern California roots to become one of the leading multifamily advisory firms in the Western United States with offices in Southern California, Central California, Las Vegas, Albuquerque, Salt Lake City, Seattle and now Portland.  In its brief seven-year history, the firm has closed in excess of $1 billion in transactions representing more than 100,000 apartment units. 

The new office gives the firm a local presence to better support its client’s increasing investment activities in the Pacific Northwest, according to Mogharebi.   

“Real estate is a local business and as we expand our investment platform throughout the West, it was a logical and inevitable step to have boots on the ground in Portland, which has caught the eye of many of our investor clients because of its relative affordability compared to other West Coast markets,” said Mogharebi.  “Not only will we be able to better identify investment opportunities in key multifamily markets throughout Oregon and Idaho, the new office allows us to build relationships here and develop new ones.”  Giblin also will work closely with Robert Parmar and Ryan Kidwell, who lead Mogharebi’s office in Seattle, which opened in August 2021.   

“The Mogharebi Group expansion in the Pacific Northwest will yield enormous benefits for our clients seeking opportunities through both our investment platform and collaborative network of professionals,” said Giblin. 

Giblin, who has spent the majority of his nearly 40-year career in the Portland multifamily markets, was formerly president and principal broker for The Giblin Company, a real estate investment firm he founded in 2013.  Previously, he was a broker with Marcus & Millichap.  Over the course of his career, Giblin has closed  nearly $1 billion in transactions with assets located in Oregon, Washington, California, Utah, Arizona, New Mexico, and Texas. Giblin graduated from Brigham Young University with a BS in Finance and Marketing. 

The new office is located at 1050 W. 6th Avenue in Downtown Portland. 

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. 

News From The Mogharebi Group 

For Immediate Release 


The Mogharebi Group Completes $31.25 Million Sale of 138-Unit Apartment Community in Whittier, CA 

Costa Mesa, CA (September 5, 2023) – The Mogharebi Group (TMG) has arranged the $31.25 million sale of Citrus Court, 138-unit apartment community in Whittier, CA. 

The garden style community located at 8121 Broadway Avenue is encumbered by a 99-year ground lease with 41-years remaining, which adds to the already challenging conditions investors are facing when buying real estate in the Los Angeles area, according to TMG Executive Vice President Otto Ozen who advised the seller on the transaction. 

“Less than 3% of all Southern California real estate transactions are subject to ground leases and we have done well more than our share,” said Ozen.  “A ground lease is like a melting ice cube. You start with the maximum term and from that point on, each year is less desirable as financing becomes more difficult.  However, given our experience, we were  able to overcome the hurdles, generate multiple offers and close within 90 days of entering into the purchase and sale agreement.” 

Citrus Court is located in Whittier, which has grown into one of the more affluent and dynamic residential areas in Southern California.   Considered a Los Angeles County gateway city, it is 12 miles southeast of The City of Los Angeles where a challenging political and regulatory environment has had a chilling effect on multifamily investment.  In addition to restrictive eviction policies, the city’s recently passed Measure ULA taxes sellers 4-5% on sales over $5 million.  Since April 1, 2023 when the law went into effect, there have been only 10 multifamily sales over $5 million, compared to 77 sales that were recorded in the same time period the previous year. 

Those investors who have been driven away from doing business in Los Angeles are also drawn to Whittier and other second ring cities for their numerous demand drivers  including relative affordability, excellent schools, and access to employment hubs throughout  Los Angeles, the San Gabriel Valley and Orange County. 

Built in 1967, Citrus Court offers a mix of spacious studio, one-, two, and three-bedroom floorplans with an average size of 843 square feet.  The seller recently completed renovations in 120 units, updating kitchens & bathrooms and installing new hardwood floors. Community amenities include on-site laundry, two swimming pools, wi-fi lounge, BBQ area, and controlled access gates. 

About The Mogharebi Group 
The Mogharebi Group (http://www.Mogharebi.com) is a real estate investment and advisory firm specializing in the multifamily property sector throughout the Western United States. Backed by unparalleled local market knowledge, an extensive global network of top real estate investors, state-of-the-art technology, and direct access to capital with more than $950 million in revolving inventory, The Mogharebi Group is the best choice to meet the needs of major private investors and investment funds. 



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