The Mogharebi Group (TMG) arranged the $127-million sale of Regency Palms, a 310-unit gated multifamily community in Huntington Beach, in what is one of the largest multifamily transactions in Orange County over the past 12 months. The transaction was arranged by SVPs Brett Bayless and Bryan LaBar and associate advisor Nick Earl from the TMG headquarters in Costa Mesa.
The seller, an institutional investment firm which owned the asset for nearly 30 years, sold it to a private local Orange County buyer.
“Today’s market dislocation is creating an opportunity for private investors with a longer, often multigenerational, investment horizon and deeper knowledge of local submarkets,” said LaBar. “Transactions such as these can be the early signs of a stabilizing market, and an indication of the long-term demand for Southern California assets.”
Bayless added, “There is a high barrier to entry, especially in Orange County’s coastal communities which is considered a safe haven for many investors due to the strong demand for rental housing and high replacement costs. Much of the inventory is considered long-term hold assets so it’s rare to have an opportunity to acquire a property, especially of this size and quality in this market.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).