Trending...
- Governor Newsom honors fallen California Highway Patrol Officer Miguel Cano
- Governor Newsom marks historic expansion of California's Film and Television Tax Credit Program, announces 16 new projects to film in the Golden State
- California: Governor Newsom announces appointments 7.2.25
COSTA MESA, Calif. - Californer -- The Mogharebi Group (TMG), on behalf of ROEM Development, has arranged the $41.25 million sale of a two-property, 118-unit senior affordable housing portfolio in San Jose, CA.
Built in 2001 and 2003 by ROEM, Monte Vista Gardens Senior 1 and 2 total 118 units across two residential buildings. Located at 2605 La Hacienda Ct. and 2600 Nuestra Castillo Court, a block apart in northeast San Jose, the two- and three-story, controlled-access senior complexes include a community center with library and kitchen, garden/courtyard, solar panels, and laundry rooms.
"The Monte Vista Gardens Senior portfolio was a rare opportunity for the buyer to acquire high-quality assets in a sector supported by several strong demand drivers, including Baby Boomer demographics, the overall renter economy, and the universal need for affordable housing," said TMG Founder and President Alex Mogharebi, who along with Executive Vice President Otto Ozen brokered the transaction. "Despite rapidly rising interest rates, competition was very intense with many interested buyers, and the nearly $350,000 per unit achieved in this sale bears that out."
More on The Californer
With 10,000 Baby Boomers projected to reach retirement age every day through 2030, the demand for senior housing should remain strong. Volumes in the second half of 2021 approached record highs as more than 21,000 units were absorbed across U.S. primary markets, which include the San Francisco Bay Area and Silicon Valley, according to the National Investment Center for Seniors Housing & Care.
About The Mogharebi Group
The Mogharebi Group is one of the largest multifamily brokerage firms in the United States by volume. With offices throughout the western United States, The Mogharebi Group offers private investors and investment funds deep local market knowledge, an extensive global network of top real estate investors, state-of-the-art technology, and direct access to capital with over $800 million in regularly revolving inventory. For more information visit: http://www.Mogharebi.com.
Built in 2001 and 2003 by ROEM, Monte Vista Gardens Senior 1 and 2 total 118 units across two residential buildings. Located at 2605 La Hacienda Ct. and 2600 Nuestra Castillo Court, a block apart in northeast San Jose, the two- and three-story, controlled-access senior complexes include a community center with library and kitchen, garden/courtyard, solar panels, and laundry rooms.
"The Monte Vista Gardens Senior portfolio was a rare opportunity for the buyer to acquire high-quality assets in a sector supported by several strong demand drivers, including Baby Boomer demographics, the overall renter economy, and the universal need for affordable housing," said TMG Founder and President Alex Mogharebi, who along with Executive Vice President Otto Ozen brokered the transaction. "Despite rapidly rising interest rates, competition was very intense with many interested buyers, and the nearly $350,000 per unit achieved in this sale bears that out."
More on The Californer
- California: Governor Newsom announces deployment of urban search and rescue task force teams to Texas
- Long Beach Youth Invited to Apply for the City's Youth Advisory Council
- Utah Metal Fabricator Titan Forge Builds Momentum with Custom Steel Projects and Spiral Staircases
- Jason Koch: Pioneering the Future of Real Estate Development in New Jersey
- Amid Trump's assault on public lands, California conserves over one million acres of land and coastal waters in just one year
With 10,000 Baby Boomers projected to reach retirement age every day through 2030, the demand for senior housing should remain strong. Volumes in the second half of 2021 approached record highs as more than 21,000 units were absorbed across U.S. primary markets, which include the San Francisco Bay Area and Silicon Valley, according to the National Investment Center for Seniors Housing & Care.
About The Mogharebi Group
The Mogharebi Group is one of the largest multifamily brokerage firms in the United States by volume. With offices throughout the western United States, The Mogharebi Group offers private investors and investment funds deep local market knowledge, an extensive global network of top real estate investors, state-of-the-art technology, and direct access to capital with over $800 million in regularly revolving inventory. For more information visit: http://www.Mogharebi.com.
Source: Mogharebi Group
Filed Under: Real Estate
0 Comments
Latest on The Californer
- THINKWARE Announces Prime Day Deals on Best-Selling Dash Cams
- Zeta Sky Strengthens Cybersecurity Support for Ontario Businesses Facing Rising Identity & Complian
- Bach and Beyond: Cellists Return to the Beach for 2nd Annual Bethany Beach Cellofest
- Boleros de Noche presents "Marisoul y Los Hermanos Carlos" & "Bolero Soul" at The Ford
- Krispy Kreme, Inc. (DNUT) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
- The 17th Annual Hola Mexico Film Festival presented by Toyota September 12-20 during Hispanic Heritage Month Official Poster Reveal
- NR7 Miner launches zero-cost USDT cloud mining service: daily stable income + referral rewards for double profit
- "The Grateful Dead — 60 Years in San Francisco" - Pantheon Media Launches New Podcast Series and Interactive "Hit Replay" App
- Deaths Spur Closures, but Troubled Teen Camps Must Be Banned, CCHR Warns
- Kiavi Expands Leadership Team to Further Bolster Construction Lending Growth
- Palmer Lake Wine Festival To Build Bridges in Small Mountain Community, Highlight Local Businesses
- Swim Up Hill Appoints Ambassador Lawson, Rep. Towns, and Banker Henderson to Board of Directors
- Paralympic Medalist Jamal Hill Launches Official Road to LA28 Campaign and $3M Corporate Fundraising Initiative
- AI-powered Virtual Staining of Biopsies for Transplant Diagnostics
- Jamal Hill, Duke of LA28 and ESPY Nominee, to Attend 2025 ESPYs and Host Exclusive LA28 Cocktail Party at Yamashiro Hollywood
- Swim Up Hill Games Launches Beta Version of Runner-Style Swim Game to Advance Global Water Safety
- Swim Up Hill, California Science Center Launch First Virtual Swim Experience in LA84-Funded Exhibit
- California: TOMORROW: Governor Newsom to join federal, state, and local leaders to recognize six-month anniversary of Los Angeles firestorms
- Skool Alternatives Reddit: Skool vs Circle vs Whop - Did you join one yet?
- Southern Soul Artist Moe Z Releases New Single 'Set It Out' Distributed by Morris Day Entertainment