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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

72-Unit Affordable Community in Brawley Sold for $5,050,000 by The Mogharebi Group

September 10, 2021 GMT

BRAWLEY, Calif.--(BUSINESS WIRE)--Sep 10, 2021--

The Mogharebi Group, (“ TMG ”) has completed the sale of Valle del Sol, a 72-unit affordable community located at 1605 C Street. The property was sold above the list price with multiple offers for $5,050,000. Otto Ozenand Bryan LaBar represented the seller, Southern California based investor. The buyer was a private investor based out of Southern California.

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“Valle del Sol is a newer build, 100% affordable housing community,” said Bryan LaBar, Senior Vice President of The Mogharebi Group. “As a result, there was a high level of interested buyers for this asset. However, it was our proprietary 1031 exchange platform that includes a robust network of private high net-worth and exchange buyers that ultimately drove the value and successfully closed.”

Built-in 2008, Valle del Sol is a 72-unit, affordable housing community. The property comprises seven residential buildings totaling 67,672 rentable square feet. The complex is situated on a 3.83-acre site. The apartment homes feature spacious one, two and three-bedroom floor plans with in-unit washer / dryer hook ups. The property boasts a clubhouse, playground, laundry facility and swimming pool.

About The Mogharebi Group (TMG): The Mogharebi Group is a brokerage firm specializing in the multifamily property sector throughout California. With unparallel local knowledge, an extensive global network of top real estate investors, state of the art technology, and direct access to capital, The Mogharebi Group is the best choice to meet the needs of major private investors and investment funds.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20210910005562/en/

CONTACT: The Mogharebi GroupBryan LaBar| 909.371.1328

Vice President

Bryan.LaBar@Mogharebi.comOtto Ozen| 909.235.7889

Executive Vice President

Otto@Mogharebi.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: The Mogharebi Group

Copyright Business Wire 2021.

PUB: 09/10/2021 05:51 PM/DISC: 09/10/2021 05:51 PM

http://www.businesswire.com/news/home/20210910005562/en