Press release content from Business Wire. The AP news staff was not involved in its creation.
Record Breaking Apartment Sale in Turlock by The Mogharebi Group
February 3, 2021 GMT
The Mogharebi Group, (“
TMG ”) has completed the sale of
Arbor Manor Senior Cottage Homes, a 49-unit senior community located at 140 West Minnesota Avenue in Turlock, California. The property sold with multiple offers for a record-setting sales price of
$7.2 million or $147,000 per unit.
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(Photo: Business Wire)
“Due to strong in-place cash flow and desirable central location, Arbor Manor provided stable occupancy and collections with proven value-add upside,” says
President of
The Mogharebi Group. “As a result, there was a high level of interested buyers for this asset. Through our proprietary