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The Mogharebi Group Completes $23.50 Million Sale of 96-Unit Axis at Compass Pointe Apartment Community in Merced, California
MERCED, CA - The Mogharebi Group, (“TMG”) has completed the sale of Axis at Compass Pointe in Merced, a 96-unit community located at 3779 Horizon Avenue. The property sold with multiple offers for a record price of $23,500,000 that equates to $244K per unit or $245 per square foot. The buyer is a private investment group out of the San Diego area. “No inventory has been added in Merced since 2013, apart for Axis at Compass Pointe. Therefore, there was a high level of interest...
Source: multifamilybiz.com