CA Property Sells for $17M
- May 15, 2019
Positive Investments has sold Golden Meadows, a 196-unit, garden-style community in Kerman, Calif., for $16.7 million. The Mogharebi Group represented the Orange County-based seller, and the buyer, a local, private investor. Berkadia secured a $13.7 million Fannie Mae, permanent loan for the acquisition, according to Yardi Matrix data.
Situated at 14460 W. California Ave. the community is near freeways 145 and 180, around 15 miles from downtown Fresno and 21 miles from Fresno Yosemite International Airport. The property also offers convenient access to the town’s recreational areas, such as the Kerman Rotary Park and Kerman Recreation Department.
The 24-building, two-story Golden Meadows was constructed in 1988 and 1991 and comprises a mix of studios, one-, two- and three-bedroom units, averaging 658 square feet. The community also features three common-area buildings, two pools, a barbecue and picnic area, two laundry facilities and covered parking spaces.
The Mogharebi Group’s brokerage team included Executive Vice President Otto Ozen. In February, the firm brokered the sale of Paradise Apartments located in Chico, Calif.