The sale of Regency Palms, a 310-unit gated multifamily community in Huntington Beach, for $127 million by The Mogharebi Group (TMG) marks one of the largest transactions in Orange County within the past year. TMG’s SVPs Brett Bayless and Bryan LaBar, along with associate advisor Nick Earl from their Costa Mesa headquarters, facilitated this deal.
The seller was an institutional investment firm that had owned the property for nearly three decades. It was purchased by a private local buyer from Orange County.
According to LaBar, current market conditions have created opportunities for private investors who have a longer-term investment strategy and extensive knowledge of local submarkets. He also believes that deals like this indicate stability in the market and highlight Southern California’s long-term demand for assets.
Bayless added that there are significant barriers to entry in coastal communities like Orange County due to high rental housing demand and replacement costs. This makes it rare to find properties available for purchase – especially ones as large and high-quality as Regency Palms – making it an attractive opportunity on today’s market.
