Search
 

Central Valley Offers High Yields and Leverage

With high leverage, double digit cash-on-cash returns are common and investors are attracted to properties with rare amenities such as townhome floorplans in the Central Valley, GlobeSt.com learns in this EXCLUSIVE.

By Lisa Brown | lisabrown | Updated on October 18, 2017

Multifamily portfolio Both assets sold this summer for a combined price of about $25 million or 96% of asking.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.