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California   /   January 19, 2021

Dennis Kaiser
By: Dennis Kaiser

Fullerton MF Trades for Record Price

The Mogharebi Group (TMG) completed the sale of Portico Villas, a 128-unit multifamily property in Fullerton. The property sold with multiple offers for a record-setting sales price of $49.83 million.

Built in 1987, Portico Villas is a two-story, apartment community situated on a nearly 3.5-acre site at 140 W. Hills Ave. The property comprises nine buildings totaling 114,656 rentable square feet. Units feature one- and two-bedroom floor plans. The property boasts a swimming pool, clubhouse, pet playground, fitness center, laundry facility, and ground floor covered parking.

The Mogharebi Group’s Alex Mogharebi and Otto Ozen represented the seller, an unnamed SoCal-based investment group. The buyer was an undisclosed private investment group also based in Southern California.

Ozen says, “Portico Villas is well maintained community with upside potential in a highly desirable Orange County market. Despite the challenges posed by the pandemic, we generated strong interest from buyers.”

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Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience.
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