Positive Investments Sells Sacramento-Area Community
The Mogharebi Group brokered the $15.8 million transaction.
Continental Terrace. Image courtesy of The Mogharebi Group
Positive Investments has sold Continental Terrace, a 142-unit multifamily community in South Sacramento, Calif., to a private investor, Yardi Matrix shows. The Mogharebi Group represented the seller in the $15.8 million transaction.
According to the same data provider, a loan in the amount of $7.8 million was funded by Positive Investments. The company had acquired the property back in 2021 for $13.5 million.
Completed in 1975, the community encompasses seven two-story buildings with studio and one-bedroom floorplans ranging between 423 and 716 square feet. Common-area amenities include a swimming pool, a playground, a tennis court, a pickleball court, two laundry facilities, controlled access and 200 parking spaces.
Located in an Opportunity Zone at 6915 Lewiston Way, the 5.1-acre property is 9 miles from downtown Sacramento, near Golden State Highway. Continental Terrace sits in an area with several dining options, retail centers and entertainment venues.
Mogharebi Group’s Senior Vice President Robin Kane and Vice President Brendan Kane represented the seller in the deal. The company has recently arranged the $28.5 million sale of a 284-unit senior housing community in Wildomar, Calif.
