BAKERSFIELD, CA—Autumn Glen and Serena Vista, comprising a total of 250 units, were the last two Bakersfield properties in the Bascom Group portfolio. Both assets sold this summer for a combined price of about $25 million, representing 96% of the asking price and below replacement cost.
Mark Bonas, who recently joined The Mogharebi Group as senior vice president, represented the Bascom Group in the disposition of all six of the total Bakersfield assets. After the sale was finalized, Otto Ozen, executive vice president at The Mogharebi Group, offered added insight into the Central Valley market in this exclusive.
GlobeSt.com: What do investors look for in a Central Valley investment?
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
