Record Setting Sale of Student Apartment Community in Fullerton Sold by The Mogharebi Group

The Mogharebi Group (TMG) has completed the sale of Oxford North Student Apartments, a 100-unit community, located in Fullerton, California.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, April 9, 2021
Information
Tags: 
Commercial Building & Real Estate, Construction & Property, Urban planning, REIT, Landscape, Interior design, University, Education, Residential Building & Real Estate, Fullerton, California, Ozen
Geotags: 
United States, California, US, UK, FULLERTON, NORTH
⚠ generated by AI ↴
Organisation: 
THE MOGHAREBI GROUP (TMG): THE MOGHAREBI GROUP
Summary
Key Points: 
  • The Mogharebi Group (TMG) has completed the sale of Oxford North Student Apartments, a 100-unit community, located in Fullerton, California.
  • The property had recently undergone renovations and upgrades to tap into the student population in the area, says Otto Ozen , Executive Vice President of The Mogharebi Group.
  • Alex Mogharebi , Otto Ozen and Mike Marcu of The Mogharebi Group represented the sellers; a JV Partnership based in Southern California and the UK.
  • About The Mogharebi Group (TMG): The Mogharebi Group is a brokerage firm specializing in the multifamily property sector throughout California.


The Mogharebi Group (“TMG”) has completed the sale of Oxford North Student Apartments, a 100-unit community, located in Fullerton, California. The property sold with multiple offers for a record-setting sales price of $44.415 million.

“Oxford North is situated adjacent to Cal State University Fullerton, a top-ranked regional university in the US. The property had recently undergone renovations and upgrades to tap into the student population in the area,” says Otto Ozen, Executive Vice President of The Mogharebi Group. “Due to the Covid-19 pandemic, the occupancy had dropped to 63% which made it challenging. However, the location and the strong upside potential made it very appealing for investors. Through our proprietary platform that includes a robust pool of 1031 exchange buyers as well as an expansive network of private and high-net-worth investors, we were able to drive the value.”

Alex Mogharebi, Otto Ozen and Mike Marcu of The Mogharebi Group represented the sellers; a JV Partnership based in Southern California and the UK. The buyer was a private investment group also based in Southern California.

Built in 1972, Oxford North is a two and three-story complex with ground floor parking garages; the 100-unit apartment community is located at 2000 Oxford Avenue in the city of Fullerton. The property comprises 10 buildings totaling 87,752 rentable square feet. The buildings are situated on a 4.40-acre site. It features luxurious common area amenities, including a resort-style pool and spa with cabanas, outdoor entertainment lounge, BBQ grill stations, outdoor TVs, clubhouse with Billiards, fitness center with Pilates and Yoga studio, and more.

About The Mogharebi Group (TMG): The Mogharebi Group is a brokerage firm specializing in the multifamily property sector throughout California. With unrivaled 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.

For more information visit: Mogharebi.com

Copyright: 
Copyright Business Wire 2021