### Mogharebi Group Facilitates $37.6M Sale of Summerview Apartments in Modesto
The Mogharebi Group (TMG) has successfully arranged the $37.6 million sale of Summerview Apartments, a 136-unit multifamily community located at 3601 Prescott Road in Modesto. The sale was facilitated on behalf of San Francisco-based Tesseract Capital Group, with the buyer being Summerview Apartments ABC LP.
TMG’s Executive Vice President Otto Ozen, Senior Vice President Brian Nakamura, and Vice President Nazli Santana represented Tesseract Capital in the transaction. Ozen highlighted the growing interest from out-of-area investors in the Central Valley, emphasizing the region’s strong market fundamentals and attractive investment opportunities compared to more competitive metropolitan areas.
“The buyer, a private investment group based in Sacramento, was particularly drawn to the highly renovated and stable property,” Ozen noted. “Additionally, the assumable loan associated with the property made the overall return more attractive.”
Originally built in 1988, Summerview Apartments consists of 20 one- and two-story buildings offering both one- and two-bedroom floorplans. Under previous ownership, 120 of the 136 units underwent full or partial renovations, enhancing the property’s appeal to investors.
