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California   /   April 14, 2021

Lisa Brown
By: Lisa Brown

Oxford North Goes for $44M After Multiple Offers

Location was key for Oxford North Student Apartments located at 2000 Oxford Ave. in Fullerton. The 100-unit community recently sold with multiple offers for $44.415 million.

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

“Oxford North is situated adjacent to Cal State University Fullerton, a top-ranked regional university in the U.S. The property had recently undergone renovations and upgrades to tap into the student population in the area,” says Ozen. “Due to the COVID-19 pandemic, the occupancy had dropped to 63 percent, which made it challenging. However, the location and the strong upside potential made it very appealing for investors.”

Built in 1972, Oxford North is a two- and three-story complex with ground-floor parking garages. The property comprises 10 buildings totaling 87,752 rentable square feet. The buildings are situated on a 4.4-acre site.

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About the Author

Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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